Fast-growing fashion retailer Aritzia has unveiled a five-year plan that includes a compound annual growth rate of 15 to 17 per cent and continued US expansion.
The Vancouver, British Columbia-based company plans to open 12 to 14 new US 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.
Aritzia is also looking to expand its business beyond its current footprint in the US and Canada. (The company currently operates approximately 145 locations throughout North America.)
Aritzia is targeting net revenue of C$9.5bn to C$10.5bn in fiscal 2032. The amount includes North America digital net revenue of approximately C$4.1bn to C$4.5bn, representing a compound annual growth rate of approximately 20 per cent.
“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”.
