Conclusion

The reason we choose Aritzia to expand internationally is that we believe that with Aritzia's success in the North American market today, the brand would also have a meaningful opportunity to expand internationally to other countries as a multinational brand. Aritzia's competitive advantage encompasses several factors, including its strategic mix of exclusive brands, offering high-quality products at an achievable price point, its refined and proven merchandise planning strategy, as well as a focus on delivering an aspirational shopping experience and excellent customer service.

In this sense, we think China would be a good fit for Aritzia to expand its retail operations. China is a lucrative and promising market. China's fashion industry has been growing steadily, with a growing population with more purchasing power than ever before. And the Chinese consumer are preferring to buy more leisure clothes and lifestyle fashion brands due to the impact of Covid-19, and we believe that Aritzia's products would be attractive to these customers. And its multi-brand strategy would provide consumers with a kind of personalized and seamless one-stop shopping experience.