Aritzia says founder and chief executive Brian Hill is stepping down from the role after leading the clothing retailer for 38 years. He also forfeited stock options in recent years to help the company thrive. [4] Figuring out how to expand into California and Florida brought some challenges due to the warm nature of the fall and winter clothing lines. Aritzia Inc. founder Brian Hill caused a ripple in his company's share price on Tuesday after the company's chairman and former CEO announced that he was selling $70 million in shares. AND THE JUDGES SAY Brian Hill has shown remarkable leadership in all aspects of company-building, from his innovative retail concept in 1984 to vertical integration of designing and manufacturing, focus on operations, and hiring several senior managers who started on the showroom floor. Aritzia CommunityTM is committed to supporting organizations that help women and girls succeed at work and in life and mental wellbeing. Yet Hill is still on the verge of becoming a billionaire, based on the value of hisshares. Don't worry, you can unsubscribe from our mailing list at any time. I think there is a real, tangible pleasure to a customer coming in and needing something and you deliver it for them and theyre happy. Prior to that, he was the news editor. Start your day with Sunrise, a roundup of B.C. Hill claimed that he saw a gap in the market, which he intended to fill, lying somewhere between luxury clothing retailers for young women and trendy retailers for young girls. The son of Jim Hill, who started (and still runs) Hills of Kerrisdale, Brian spent his youth sorting hangers, washing windows and absorbing his dads business tutelage. Unconfirmed subscriptions will be removed within 24 hours. The owner of Aritzia is Brian Hill. To date, weve contributed more than $40 million in product donations, financial support and volunteer hours to non-profits and Aritzia CommunityTM partners that share our values. he is a third-generation retailer, has led us since the Hill family opened the first Aritzia boutique in Vancouver in 1984. The first, of course, is Lululemon. Adjusted EBITDA was . This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. We just thought that we knew more about what consumers wanted, and the suppliers out there werent giving it. Throughout the 90s and into the millennium, the vertically integrated womens fashion retail firm built its empire, which now includes 25 locations across the country, two more in the U.S. and three more set to open south of the border. All Rights Reserved. EXCELLENCEWe relentlessly pursue world-class results. Hill will remain Aritzias largest shareholder with approximately 20% equity interest and 71% voting power. Hill will continue in a new role of executive chair, focusing on product, marketing, real estate and business development, according to the release. If you need more lookups, subscriptions start at $39 USD/month. I continue to be excited about the opportunities ahead and committed to the companys long-term success, said Mr. Hill. As of this writing, the shares are trading at $35.10. [1] Unlike most comparable retailers such as H&M, Aritzia designs and produces many in house brands including: TNA, Talula, Babaton, Wilfred, Wilfred Free, Community, Le Fou, La Notte, Sunday Best, Paradise Mine, The Castings, SIXELEVEN and Auxiliary. He created every inch of it. |, Click to View our Accessibility Statement. Aritzia currently has 85,082,023 subordinate voting shares and 24,978,049 multiple voting shares. Read more about cookies here. Rather hes charging forward with a major expansion, including a number of stateside openings. For just $3.50 per week, you can get unlimited, ad-lite access to The Vancouver Sun, The Province, National Post and 13 other Canadian news sites. VANCOUVER - Aritzia Inc. says founder and chief executive Brian Hill is stepping down from the role after leading the clothing retailer for 38 years. But your remark yesterday made me realize how completely wrong I was. [2] After poor grades caused him to be kicked out of the faculty of commerce, he graduated from the faculty of economics. |, Don't worry, you can opt out any time. daughter of the late Michael . Brian Hill is a Canadian entrepreneur and the founder and Executive Chair of Vancouver-based clothing company Aritzia. Aritzia announces purchase of Vancouver athleticwear company Reigning Champ, The Year in Review: Many fashion retailers say goodbye, but Aritzia continues to thrive, Vancouver-based Aritzia CEO Brian Hill only collected a $1 salary and $1 bonus in last fiscal year, Aritzia warehouse sale creates huge lineups near Vancouver Convention Centre, Photos: Inside the madness of this year's Aritzia warehouse sale, Georgia Straight guide to the 34th annual Dancing on the Edge festival, Education: Upgrade your skills for a dramatically new world. The soundtrack in our boutiques? "This approach aligns with the next phase of our companys growth," the document states. Interested? Aritzia says net revenue in its fourth quarter came in at $444.3 million, up from $267.5 million for the same quarter last year. Following the closing the offering and assuming no exercise of the over-allotment option, Aritzia will have 88,122,723 subordinate voting shares and 21,937,349 multiple voting shares outstanding. Hill owned 24,207,349 multiple voting shares and 770,700 subordinate voting shares, according to Aritzia's most recent management information circular issued on May 20. We encountered an issue signing you up. (It's kind of why we're here.). When search suggestions are available use up and down arrows to review and enter to select. Aritzia announced that its founder and CEO, Brian Hill, is stepping down after leading the fashion brand for 38 years. We do so through three pillars of impact: poverty alleviation, mentorship and job readiness. In addition, Mr. Hill holds 220,913 options to acquire subordinate voting shares (each an Option). Learn more about us and our exclusive brands. Support us by subscribing today: The Vancouver Sun | The Province. The idea was simple: offer beautiful clothes in aspirational spaces with exceptionalservice. The head office of each of AHI Holdings Inc., Sven Holdings Inc. and the ARON Charitable Foundation is located at 611 Alexander St., Suite 408, Vancouver, BC, Canada, V6A 1E1. Why Did Brian Hill Create Aritzia? Under his leadership, we have opened 87 retail boutiques in key markets in Canada and the U.S., in addition to developing and launching our eCommerce business. news and opinions delivered straight to your inbox, Start your day with Sunrise, delivered straight to your inbox, Aritzia names new CEO to succeed founder Brian Hill, Suspected money launderer won't be charged, special prosecutor rules, UBC professor says not masking is racist, ableist and classist, Three arrested after B.C. Get the good stuff, right to your inbox. Opt to get texts or calls with insider info, offers, invites and other fun surprises from Aritzia through your phone number below. Rather he's charging forward with a major expansion, including a number of stateside openings. These days, Brian Hill doesnt spend much time on the floor of any of his Aritzia clothing stores, which he leaves in the hands of some 1,131 employees. Copyright 2023 Buzz Connected Media Inc. Jennifer Wong, said Hill in a statement. Following completion of the Offering (assuming no exercise of the over-allotment option), there will be 88,122,723 subordinate voting shares outstanding and 21,937,349 multiple voting shares outstanding of the Company. In 1984, Brian Hill opened the first standalone Aritzia boutique in Oakridge Centre an upscale shopping mall in his hometown. "2008 Entrepreneur of the Year: Brian Hill | BC Business", "CEO Talk | Brian Hill, Chief Executive Officer, Aritzia", "Aritzia CEO fashions family business into international success: CEO Series | Beedie Newsroom", "Why Brian Hill and Andrea Thomas Hill give back | BC Business", "Board of Directors | Cause We Care Foundation", https://en.wikipedia.org/w/index.php?title=Brian_Hill_(businessman)&oldid=1124817554, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 30 November 2022, at 17:29. Arnault tightens family grip on LVMH as daughter becomes Dior CEO: RE. Brian Hill is a Canadian entrepreneur and the founder and Executive Chair of Vancouver-based clothing company Aritzia. Noting that Wong has been instrumental in accelerating the companys recent growth, Hill remarked her appointment is key to capitalizing on the incredible opportunities in the companys future. museum's iconic woolly mammoth gets splashed with paint. Comments on this story are moderated according to our Submission Guidelines. As a group, they have a few things in common: an effortless appeal, a focus on fit and an of-the-moment point ofview. Aritzia is an innovative design house and fashion boutique. Insider info on sales, new arrivals and more good stuff. Nina Westervelt | Bloomberg | Getty Images. After the opening of its first location in 1984, the company has grown steadily in its thirty years of operation, servicing a demographic of young women and employing more than 2,300 staff. A few decades later, that idea hasnt changed. The president and CEO of the Vancouver-based clothing company has been interviewed about the success of his business countless times; its all part of the job, but its clear hes more comfortable doing what he does best overseeing every facet of B.C.s most successful fashion retail monopoly. NOT FOR . Loud music, hip interior design, youthful sales clerks and crowds of well-dressed teens riffle through the racks. Remains Aritzia's largest shareholder with approximately 18.7% equity interest . 365 Bloor Street East, Toronto, Ontario, M4W 3L4. He founded the company in 1984 and has been its CEO since then. Now, a public Company and household name with over 100 stores across North America and a global eCommerce platform, Aritzia continues to serve Everyday Luxury to communities near andfar. It's why we consider (and reconsider) every last seam, pleat and button. He understands todays young consumer is looking for more than a skirt or pants they want a full lifestyle experience when theyre still in the store. Brian Hill, president and CEO, Aritzia LP These days, Brian Hill doesn't spend much time on the floor of any of his Aritzia clothing stores, which he leaves in the hands of some 1,131 employees. A love of art runs deep at Aritzia. Brian Hill Brian Hill is a Canadian entrepreneur and the founder and CEO of Vancouver-based clothing company Aritzia. The soundtrack in our boutiques? Even our shopping bags serve as a canvas for creativeexpression. Securities Act) or any state securities laws. I am grateful to our team members for their hard work and dedication, which continues to propel us forward at a phenomenal pace, Hill said. When Brian Hill opened the first standalone boutique in 1984, the idea was simple: offer beautiful clothes . By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Please try again. Message frequency varies. Prince Harry, the Duke of Sussex, made the announcement at the closing of the games in the Netherlands. Who we are is reflected in our values. Net income was reported as $34.2 million, up 113 per cent from the $16.1 million a year earlier. Aritzia Inc. says founder and chief executive Brian Hill is stepping down from the role after leading the clothing retailer for 38 years. Aritzia was started inside the Hill family's 80-year-old department store in Vancouver. Please check your browser settings to ensure that it is not blocking Facebook from running on straight.com. Saved by a strong performance in economics, Hill graduated in that faculty, then returned to Vancouver to open the first Aritzia in Oakridge Centre in 1984. With an unwavering commitment to quality, design and service, Hill's influence has established Aritzia as the premium retailer and brand it is today. Under his leadership, we have opened 87 retail boutiques in key markets in Canada and the U.S., in addition to developing and launching our eCommerce business. I am honoured to lead Aritzia and our people into the future with Brian and our senior leadership team, building upon the foundation we have built over decades, said Wong in a statement. [2] Brian worked at his father's retail store through his adolescence, often doing simple maintenance tasks, such as folding, and window washing. The idea was simple: offer beautiful clothes in aspirational spaces with exceptional service. Your browser's Javascript functionality is turned off. Aritzia marketing calls and texts may use an automatic telephone dialing system. . Should traffic fines in B.C. Aritzia Inc. founder Brian Hill said he will step aside as chief executive after 38 years at the helm of the clothing chain, initiating a leadership transition that will see president and COO Jennifer Wong elevated to CEO later this month. "Performance of ATZ prior to, during and through yet another wave of COVID reinforces our views around the strength, sustainability and upside potential of the company's unique business model,'' she said. We were past this. . Accordingly, the Shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. Upon entering an Aritzia-owned store its easy to get swept away in the electric vibe. Box 500 Station A Toronto, ON Canada, M5W 1E6. David Labistour. Daily Hive is a Canadian-born online news source, established in 2008, that creates compelling, hyperlocal content. 2023 CNBC LLC. It gave me some financial security and it allowed Aritzia to go back to running an offensive business, versus running a business that was in capital-preservation mode, he explains. But we did it because we couldnt find what we wanted in the marketplace, says Hill. Brian Hill is 58, he's been the Chairman of the Board and Chief Executive Officer of Aritzia since . To date, weve contributed more than $40 million in product donations, financial support and volunteer hours to non-profits and Aritzia CommunityTM partners that share our values. Please turn it on so that you can experience the full capabilities of this site. Story continues below This advertisement has not loaded yet, but your article continues below. Fashion comeback: Le Chteau returns to brick-and-mortar stores across Canada, 25 Mother's Day gift ideas every mom will love, "Playing with history": People are upset Kim Kardashian ruined Marilyn Monroes iconic dress. (It's kind of why we're here.). Please confirm your subscription. The subordinate voting shares represent approximately 0.9% of the outstanding subordinate voting shares and the multiple voting shares represent approximately 100.0% of the outstanding multiple voting shares, in each case, on a non-diluted basis. On this Wikipedia the language links are at the top of the page across from the article title. Hill owns 100% of the multiple voting shares. [3] American cities with Aritzia locations include Seattle, San Francisco, Los Angeles, Chicago, Boston and New York. The Vancouver clothing retailer's stock is up 40 percent since the start of the year. "He invited me to basically run the shoe division for retail," she says of Hill, who founded Aritzia in the basement of his family's longstanding business, Hills of Kerrisdale, in 1984. 604-215-6557 We want to hear from you. Hills annual base salary and annual bonus have been set $1 each since the IPO. Since 2016, he's only collected a $1 annual salary and $1 annual bonus as the boss of Aritzia Inc.,. 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