Aritzia unveils ambitious five-year plan; to double U.S. store footprint
Fast-growing fashion retailer Aritzia unveiled a five-year plan that includes a compounded annual growth rate of 15% to 17% and continued U.S. expansion.
The Vancouver, British Columbia-based company plans to open 12 to 14 new U.S. stores annually, to reach a total of 220 stores in North America by fiscal 2032. It also plans to expand or reposition five to seven existing locations each year.
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Aritzia is also looking to expand its business beyond its current footprint in the U.S. and Canada. (The company currently operates approximately 145 locations throughout North America.)
Aritzia is targeting net revenue of C$9.5 billion to C$10.5 billion in fiscal 2032. The amount includes North America digital net revenue of approximately C$4.1 billion to C$4.5 billion, representing a compound annual growth rate of approximately 20%.
“Our five-year plan builds on the tremendous momentum in our business and the proven growth levers that have driven our success," said Jennifer Wong, CEO. "Our United States business is delivering exceptional results and will remain our primary growth market through fiscal 2032, with substantial runway still ahead."
At the same time, Wong added, the company will begin taking an "important step toward our long-term ambition of becoming famous around the world."
"We believe our unique strengths, long-term mindset and much-loved Everyday Luxury experience position us to deliver sustained, profitable growth and enduring value for our shareholders," she said.
Product expansion is also central to Aritzia's five-year plan. The company said it will expand the breadth of its assortment to capture additional share of closet, while continuing to elevate its product across all key elements. Product expansion categories are expected to contribute approximately $1.5 billion in incremental net revenue by fiscal 2032.
Earlier this year, Aritzia acquired the iconic Fred Segal brand and leased 8100 Melrose Avenue — Fred Segal’s original flagship destination in Los Angeles (West Hollywood). The acquisition included the Fred Segal brand, including intellectual property and trademarks.
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