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And Todd, you gave some commentary around sort of the cadence of pressure as the year unfolds or the rest of the year unfolds. At 5 a.m. on March 15, Wong was in Whistler, B.C., on spring break with her family when she got a call from Hill. "I feel my best after a really good cardio workout. Super Puffs immersive pop-up environments, called Super Worlds, were developed by Aritzias creative team and Willo Perron, the designer credited with Drakes flyingFerrariand Jay Zs 4:44 album, among other projects. . We have carried our strong momentum into Q2 and continue to lay the foundation for long-term lasting growth. Dr. Jennifer Wong is very nice, attentive, asked my family background, my parents and siblings names and age and their cause of passing. Social media is one of many vehicles, but in the fashion business, its an important one. When Meghan Markle, Duchess of Sussex (whose stylist has a connection to Aritzia), was photographed in a Wilfred Cocoon coat, Aritzia team made sure the world knew it, and the line sold out. This concludes the question-and-answer session and today's conference call. As Jennifer mentioned, we're going to be looking into the U.S. We're going to be looking into eCommerce. Our business in the United States accounted for 51% of net revenue in the first quarter compared to 46% last year. We see there being flexibility and perhaps some opportunity in that. Find contact details for 700 million professionals. Please go ahead. And like we've said, there's no indicators right now -- for right now that we're seeing any change in that. Not if you know how to do bricks and mortar right. No Credit Card required. And what are the biggest things that may cause gross margin to potentially come in better or worse than expected? Day after day, we were figuring out what our next move was going to be., Once the decision was made, they scrambled to put together a communications plan. Yes, we aren't seeing any change in that right now. This leverage more than offset approximately 500 basis points of erosion from the use of expedited freight as well as inflationary pressures. Get Aritzia Inc. financial information by email. And a puffy goose-down parkaoversized, like the yellow one Justin Biebers wife, Hailey, sported around Toronto last year. Meet Jennifer Wong, Aritzia President and COO, and here's how she proves that impact and innovation leads to retail success:. Following management's discussion, we'll host a question-and-answer period open to analysts and investors. After the Black Lives Matter protests last summer, Aritzia started by investing $1 million to expand and strengthen its Diversity and Inclusion Program and established an Executive Diversity and Inclusion Committee led by Wong. We would refer you to our most recently filed management's discussion and analysis and our annual information form, which include a summary of the material assumptions as well as risks and factors that could affect our future performance and our ability to deliver on these forward-looking statements. It's known for its retail mix, including a substantial roster of luxury brands. From Vancouver to New York City, Jennifer Wong, COO of Aritzia, is styled for success. Product is at the center of everything that we do and ensuring we have the right product at the right place and at the right price, quite frankly, at the right time is key to everything that we do. } I think you've heard us talk about this a lot. Really nice to see the strong momentum and the strong demand continuing. Yes. The Aritzia management team includes David Labistour (Board Member), Todd Ingledew (Chief Financial Officer), and Jennifer Wong (Chief Executive Officer) . We delivered another quarter of exceptional financial results, again, exceeding our expectations, driven by stronger-than-anticipated demand, particularly in the United States as our brand continues to gain momentum. Yes, I'll take that. No wonder: she's been with the company since 1987, when she joined the Robson Street store as a seasonal style advisor. (The company even has a mens collection for the first time in 36 years, after the celebrity-driven puff coat craze spilled over the gender line.) Potentially air freight prices could come down or expedited freight costs. & Non-Independent Director at Aritzia. Thank you. On this Tuesday in September, the store is busy but not crowdedsomething it may never be again if COVID-19 permanently changes how we shop. In Canada, there are currently 70 storefront locations, including standalone storefronts for Babaton, TNA, and Wilfred, and the company launched its first concept caf, A-OK, at Torontos Bloor-Yonge flagship location in February. Corporate Secretary, and Director of Aritzia, the total compensation of Jennifer Wong at Aritzia is CAD$1,224,000. The house-of-brands approach also enables the company to shift focus and inventory with fashions ebbs and flows. Wong joined the retailer in 1987 as a style advisor (the term Aritzia uses to refer to its sales associates) at the Robson street store in Vancouver, while studying economics at the University of British Columbia. Date Download. In Q1, our business sustained its exceptional momentum as we saw strength in all geographies and all channels, particularly in the United States. That said, we are cognizant of sort of some potentially pending inflationary effects that are going to affect everybody and how much that affects us is yet to be seen, but we are cognizant of that. In a retail landscape littered with flameouts, Aritzia has managed to stand apart, thanks in no small part to its nimble leap to e-commerce and a president and COO who focuses on everything but fashion. ", Aritzia said in a statement that Hill has "no immediate plans to make changes in [his] share ownership position. Wondering if it's jennifer@aritzia.com, jennifer.wong@aritzia.com, wong@aritzia.com, or jwong@aritzia.com? Markets; Tools Portfolios. How much is for product versus other services, dressing rooms or cafes? Todd and I will share some prepared remarks, and Brian will join us for the Q&A. Thank you for participating, and have a pleasant day. She certainly has the vision for it: shes credited for the Black Friday 2012 roll-out of Aritzias e-commerce business, making the company one of the first Canadian retailers to bring the annual sale across the border. We also partnered with Stonewall to launch our proud today, Pride For Ever Campaign. It remains to be seen whether COVID-19 will permanently change shopping dynamics. The We're monitoring the challenges of supply chain, labor and inflationary pressures very closely, maximizing our position to deliver Everyday Luxury for our clients today and tomorrow is our top priority. (To date in fiscal year 2021, which started March 2, 2020, Aritzia has opened two new boutiques and expanded or repositioned two existing boutiques in Canada, and opened five new boutiques and expanded an existing one in the United States. 1,039 followers. Aritzia secured its New York Super Puff pop-up location, for example, at less than 30 cents on the dollar compared to a few years ago. Apr 19, 2011. canadastop40under40.com . We have one in Winnipeg. However, upon graduating in 1991, Aritzia's president and CEO, Brian Hill, gave her an offer she couldn't refuse, and she became a buyer. } [Operator Instructions]. We continue to focus on empowering our clients to shop with us wherever, whenever and however they want. Propelling our business forward has not come without its challenges. Vancouver fashion retailer Aritzia Inc. (TSX:ARTZ)has appointed Jennifer Wong as CEO, while current CEO, Brian Hill, becomes executive chair. Develop your readiness for a crisis. 1,039 Followers, 784 Following, 31 Posts - See Instagram photos and videos from Jennifer Wong (@jennwongg) jennwongg. As a followup to this capsule collection, Aritzia released a limited-edition collection, Cause Mom, in time for Mothers Day. (function() { Jennifer Wong was born and raised in Hong Kong. Wong says what she values in life isnt that complicated or luxurious, its actually kind of simplebut not lacking for quality. When we made the decision to close our stores in the middle of March last year, the first thing that was top of mind for us, was our people, Wong shares. Brian is the creative genius behind the brands and how they go to market, and Jennifer is a phenomenal operator. On the southeast corner of Broadway and Spring in New York Citys stylish SoHo neighbourhood is the Canadian clothing store, Aritzia. Wong has been at the Canadian womenswear brand for "My job is broader than banking and finances. Jennifer Wong she/her. So if you could just talk a little bit about some of the attributes that you think should help Aritzia weather this rocky period? As such, we finished the quarter with more clients than ever before. Theyre not going to be sitting on obsolete inventory if they miss a season., Calibrating trends is not Wongs domain, she admits. Ms. Wong began her tenure with us in 1987 as a part-time sales associate. I don't know if the boutiques themselves and the quantity is changing. Since the implementation of our NCIB on January 12 and through yesterday, we've repurchased 1.46 million shares, returning $56.7 million to shareholders. Last updated: 1 January 2023 at 11:00am EST. Right now, we're just looking out to Q4 and what happens next year, I think we'll have a better visibility into over the next three to six months. In 1987, U2's Good afternoon, everyone. Please go ahead. The end of bricks and mortar? While Todd will provide you with our detailed financial results, I am pleased to share that we delivered net revenue of $408 million in Q1, an increase of 65% from last year, led by our business in the U.S., which continued to accelerate at a phenomenal pace, increasing 81% from last year. Demand for our much-loved Everyday Luxury experience from new and loyal clients has continued to exceed our highest expectations. We need to go beyond that because we don't want to be in a position where we're buying at 70%, expecting increases of 70% and all of a sudden, we have some COVID shutdowns or there's some shipping delays and things like that. It forecasts the countrys clothing sales will plunge 30% from 2019; the biggest previous one-year drop, in 2009, was 2.3%. But to be an effective leader you have to have other influences and other inspirations. For Wong, those are her husband and 18-month old son. So just sort of curious what that means for the business? When the pandemic hit, the company couriered clothes to models to photograph at home and moved stock from stores to the distribution centre. And then so there could be savings there. There are 8 older and 2 younger executives at Aritzia. But I'm just curious, is that something that you would expect to roll out over the -- across the entire network? A core value guiding the brand is its give-back initiative, as evidenced by the work it committed to at the start of the pandemic. We're hoping that we're also going to get margins and some -- a little bit of leverage to offset some of those inflationary pressures as well. Looking back on the months of closures, Wong sounds relieved. We had a terrific start to the year. No wonder: shes been with the company since 1987, when she joined the Robson Street store as a seasonal style advisor. } These are your fall 2020 must-haves, and Aritzias got them all. We're focused on setting ourselves up for a successful fall launch with a healthy inventory position and are ready to deliver our first ever intimate collection. The Aritzia store at the McArthurGlen Designer Outlet Vancouver mall opened in mid-2020 | Rob Kruyt, Rob Shaw: Eby selects Penny Ballem as his special adviser on health, Eby announces $90M jobs fund to boost BC forestry economy, Inside Vancouver Mayor Ken Sims first six weeks in office, B.C. As we continue to respond to client demand and the challenges of the global landscape with flexibility, we are also investing in our business for the future. We have doubled our U.S. active client base compared to last year. A key reason Aritzia is in this enviable position is its president and chief operating officer, Jennifer Wong. Now that said, as we continue to grow and continue our stores in the U.S., continue to grow on a sales per square foot basis, all of a sudden, that does open up some opportunities down the road for secondary and tertiary stores within markets, which we're certainly going to be looking at and that's -- we have a lot of experience doing so in Canada. And of course, I thank you to our clients and shareholders for their enduring loyalty as we chart our path forward on this incredibly exciting road ahead. When this store reopened in May, a two-hour lineup of shopping-starved women snaked around the block, held at bay by a crew of masked staff armed with disinfectant bottles. And so what we're seeing in, for instance, with our product expansion is we have a wide offering that has a fantastic appeal to our customer, and they're responding well to what we're offering. We want to make sure our people reflect our brand and exude our culture., One of the challenges Wong faces as a leader of a growing organization is her inability to draw on previous work experiences. But even though I'm always available for work, my career is very important to me. Thank you. "In Q2, we made further progress on our path to getting famous in the U.S.," said Aritzia CEO Jennifer Wong on a conference call with analysts Wednesday evening. Thank you. The Vancouver-based company, which went public in 2016, says. We already opened our first boutique in Orlando, and we'll be opening in Atlanta later this month. I mean, our eCommerce channel, where we're doing more business in eCommerce now than we were at Aritzia when we went public five years ago. 06-18-2022. And while I know Todd has spoken about what our outlook is for gross margin for the rest of the fiscal year, we do see these being what we're calling transitory cost effects. Aritzia executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Wong believes Aritzias first big turning point was the decision in the 1990s to create multiple in-house brands aimed at different demographics, creating an assortment of fashion apparel to appeal to mum, grandma and daughter, as she once described it. The company offers its products under the Wilfred, Babaton and TNA brands. Since I started my career at Aritzia I cant say, Ive been there and done that, says Wong. April 18, 2018 Mandate of the Board of Directors (opens in new window) 195 KB. Outside brands like Levis make up less than 10% of its sales. Yes, good afternoon. Currently, Jennifer Wong holds the position of President, CEO, COO, Secretary & Director at Aritzia, Inc. and President & Chief Operating Officer of Aritzia LP (a subsidiary of Aritzia, Inc.). At first glance it seems the boutique, which spans 10,000 square feet over two stories, resembles nothing of its originsthe small nook tucked inside the Hills of Kerrisdale department store in Vancouverbut there are two key components that havent changed since its humble beginnings: its distinctly Canadian vibe and the involvement of Jennifer Wong. Jennifer Wong works as a Purchasing Junior Buyer at Aritzia, which is an Apparel & Accessories Retail company with an estimated 6,569 employees; and founded in 1984. Jennifer Wong CEO Aritzia Jennifer Wong is CEO of the Vancouver-based retailer Aritzia Inc. She has executive oversight of a broad portfolio that includes e-commerce, people and. Aritzia generated $818.5 millionof its2022 net revenue in Canada,or about 54.8 per cent,while $676.14 millionin net revenue came from the U.S. So that's what we're looking at doing, and we're super excited about it. Ms. Wong embodies Aritzia's culture, championing the business and leadership philosophies. "We are very well known and loved in Canada," Wong said in an interview. After 33 years, is she not tempted to try something else? Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada.. Get Contact Info for All Departments. They will require some capital, but we actually foresee our sales increasing. I mean these initiatives right now in the short term are not going to drive our sales. Good afternoon. The website now services over 200 countries worldwide. And the product doesn't necessarily need to go to all -- through all channels. I hadnt even finished my last year exams, Wong explains, her role evolving to key holder and then assistant store manager while she was still studying economics at the University of British Columbia. The chain oozes cool: it often hires DJs to play in its stores. And Wong is Aritzias analyst-in-chief. But its her analytical and organizational talent that make her invaluable. On the call today, I'm joined by Jennifer Wong, our Chief Executive Officer; Todd Ingledew, our Chief Financial Officer; and Brian Hill, our Founder and Executive Chair. And I think that's proven. If industry standards have a 50 percent failure rate, why would I want to follow those same standards? says Wong, We go about things in a different way. "Exercise is a big relief," she says. Twenty-five years later, Wong is still at Aritzia, and in an era when its not uncommon for young professionals to change careers multiple times, this makes her somewhat of an anomaly. The board was against it, pointing out that Lululemon across the street had done a similar technological transformation at half the cost. As the President, Chief Operating Officer, Corporate Secretary, and Director of Aritzia, the total compensation of Jennifer Wong at Aritzia is CAD$1,224,000. I was just hoping you could do a little more handholding on the inventory growth. In the second quarter, net revenue was down more than 25% from the previous year, and in-store sales in July were roughly 60% of pre-COVID levels. What we're actually looking at is changing the footprints and increasing the footprints of the boutiques because we have such a long broad product experience. Brian Wong The cheat code. Aritzia CEO May 2022 Aritzia President & Chief Operating Officer Feb 2015 Aritzia COO 2007 Related Hubs We're not even convinced at this point in time, we're going to offer intimates and swim in our stores. Hill works closely with an in-house team of architects and designers to curate everything from fixtures to artwork to music. Hello! Today, Aritzia can count 101 boutiques, with the recent opening of its Ala Moana boutique in Honolulu, its first in Hawaii. "I hadn't even finished my last year exams," Wong explains, her role evolving to key holder and then assistant store manager while she was still studying economics at the University of British Columbia. Jennifer Wong is our President and COO, a position she has held since 2015. And Aritzia has also consistently been a favorite of the Duchess of Sussex Meghan Markle (who has been spotted in several items from the Babaton and Wilfred range). Thank you. Women to the Power of Women is a simple equation that drives us and our beliefs forward by amplifying womens voices to make exponential progress towards gender equality and inclusivity for all, Wong explains. I mean I think that's a multimillion-dollar question. Im usually the boring one who has to say, Id never wear that. Hill and Wong have established a clean division of duties. I will now pass the call over to Todd to share a more detailed look at our financials. The company was formerly known as Aritzia Capital Corporation and changed its name to Aritzia Inc. in August 2016. I think it's starting with last year is probably the right place to start when you look at the year-over-year growth. Over the course of Jennifer Wong 's tenure with Aritzia, the company has grown from a Canadian retail operation to an internationally recognized name with a successful e-commerce store and a continually growing U.S. presence.. So I see this being obviously some opportunities for new categories, but at the same time, we just don't think our stores are doing -- our size of our stores are doing our customers and Aritzia just as at this point in time. Thats my game, and this was the ultimate stress test, says Wong. So we look at our channels, and we look at our -- both our -- all our channels, whether that be our Concierge and everything else as well. Were super thrilled about it, says Wong of their new flagship boutique. But we just have not seen an erosion of our sales per square foot as we've increased the size of our stores. SIGN UP FOR OUR THURSDAY NEWSLETTER Prior to her current role, Ms. Wong was named our chief operating officer in 2007 where she created and led our executive committee as its chair. There were many firsts: our first-ever capsule collection,featuringfor the first time our remarkable Aritzia people,and with 100% of proceeds going to our Aritzia Community partner organizations.. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada. Like all global businesses, we continue to experience supply chain disruptions and logistics delays in Q1. The next question is from Dylan Carden with William Blair. So as I've been saying in my prepared remarks, we have a long-term view of the business. Fatal Attraction came out, and radio stations were playing Madonna's The Vancouver-based company, which went. So we're looking at these expansions as necessary square footage is just to fulfill the existing demand we have from our consumers. Over time, the company kept investing in the backbone technology and upgrading the online experience, improving the layout, photography, fit information, packaging and many other facets that kept the online experience consistent with the store experience, says CIBCs Petrie. Get 5 free searches. This past quarter, we began offering jack.org mental health support and resources to all of our people in Canada and The U.S. We also made a donation to support jack.org's mission of providing these resources to young people across Canada. There are now 29 retail locations stateside; the first opened in Seattle in 2007. Welcome to Aritzia's First Quarter of Fiscal Year 2023 Earnings Call. We're monitoring it on a daily basis. But generally speaking, we changed the size of the stores that we're actually communicating to the landlords that we're after. Wong has been president and COO at Aritzia. We work hard to create opportunities for young women to join the workforce and gain skills to grow in multiple career paths because championing, supporting, and growing women in leadership and across all levels of our organization is core to our beliefs., Tasha Tilberg with her twins, wearing the Cause Mom collection, a unique collaboration with Cause We [+] Care, Photo Credit: Courtesy of Aritzia. What are some additional names or alternative spellings that users use while searching for Aritzia? I think last year -- throughout the entire year, we were chasing -- our inventory levels were between 20% and 30% up over the prior year, but our sales were up 75%. 5 5 0. The continued momentum in the United States drove net revenue of $207 million in the quarter, an increase of 81% from last year. As the Pres, COO, and Corp. Sec. We're going to see that inflationary pressure on the products coming in. Demand for our much-loved Everyday Luxury experience from new and loyal clients has continued to exceed our highest expectations. Aritzia's popular TNA sweatsuit, Photo Credit: Courtesy of Aritzia. In 2023, Jennifer will perform her new stand-up show, Jennifer Wong Has No Peripheral Vision, at Adelaide Fringe (14-19 March) and the Melbourne International Comedy Festival (30 March - 9 April). window.mc4wp.listeners.push( Jennifer Wong is President, Chief Operating Officer, . With stores closed, Wongs bigger worry was demand, so the company veered hard toward e-commerce. & Non-Independent Director of Aritzia since . We see extraordinary growth opportunities ahead, and we're excited to be sharing our multiyear strategic growth plan at Aritzia's Investor Day, the week of October 24. It's a hip, sexy industry.". Combination of our geographic expansion and beautiful product collections continued to fuel our brand awareness and client acquisition. Hi Steve. Which could just as easily describe the appeal of a certain, increasingly ubiquitous, clothing store. We celebrated their heart, passion and fearlessness as they pave the way for future generation. UDPATE 2: Jennifer Wong, president and COO of Aritizia has told BuzzFeed they are investigating the matter and will be conducting one-on-one meetings with the store's staff as well as. And Petrie warns an overreliance on influencers could put Aritzias image at risk. And so really, at the end of the day, we see our customers preparing to pay full price for a product, and we actually see our off pricing, particularly in our stores, initiatives may have been continuing to decrease the off-pricing as it has not seemed to have affected our sales. To date, it has contributed more than $36 million in product donations, financial support and volunteer hours to non-profits and Aritzia Community partners that share its values. The arrival of the fall lines is something of a relief, given the spring and summer seasons were largely cancelled by the pandemic. And we are pleased with the early results we're seeing in our new boutiques and our new markets. Strategically, it comes down to our business model. Engineered to deliver warmth down to -20C / -4F, it's made with an exceptionally warm wool-cashmere fabric from a premier Italian mill. There's always something going on, and I'm always on my BlackBerry. And if I could just add something there. You may disconnect your lines. 85% of our employee base is made up of women, including 67% of our Aritzia Leadership Team; three of six executive officers are female; and 98% of our retail management team are women. She served as an executive sponsor to several successful strategic initiatives, most notably, the implementation of our new point of sale system (2017), launch of our eCommerce business (2012), implementation of our enterprise resource planning system (2008), relocation of our distribution centre (2008) and our U.S. expansion (2007). At the end of the day, she shrugs, were a demand-driven organization. Picture by Aritzia Article content material. This will be our largest boutique yet at 45,000 square feet and bring Everyday Luxury to life in a whole new way. I have never worked as hard, she says. callback: cb Wong even uses a Canadian-themed metaphor to describe their choice in real estate, calling the stores SoHo location centre ice in the fashion world. The boutique boasts rustic wood panels and vintage chandeliers giving it a cabin-chic feeling, while the extremely helpful retail staff oozes with a friendliness thats purely Canadianbecause many of them are. In Q1, we made progress on our path to getting famous in the U.S. Our client acquisition continued to accelerate, and this growth was on top of what we saw in Q4. "Aritzia has a lot of great brand equity. Follow this author to stay notified about their latest stories. Her polished demeanour was apparently in evidence even when she was a teenager. View Jennifer Wong's business profile as Chief Executive Officer at Aritzia. And so we do see things returning to normal at some point over the course of this year and into next year. I think we're having some technical difficulties here. And can I add something there, too, please? Wong was studying economics at the University of British Columbia and planning to get a real job in finance. I will now turn the conference over to Beth Reed, Vice President, Investor Relations. Just with the success on the very strong demand that you're having in the U.S. and with strong productivity from the new boutiques that you're building, is it changing your longer-term perspective on the U.S. market and just how big that could be for you and maybe the potential number of boutiques that you might open there over the long run? In Q1, we formed our Environmental and Social Board Committee to oversee how we can continue to accelerate the positive impact we are making through our operations, policies, programs and initiatives. & Non-Independent Director of Aritzia, the total compensation of Ms Wong at Aritzia is CAD$1,096,831. But I guess I just wanted to sort of ask about you've been able to move away from some of your promotions, especially in the U.S. and sort of structurally move higher on gross margin. Search. The company has identified roughly 100 locations that could support stores, and given the troubles of its retail competitors, there are many deals to be had. But we are seeing pressure on costs and things like that, which we've seen over the last sort of 12 months. Today, Aritzia is a leader in the retail industry with a world-class team, a loyal community and an exciting future ahead of it. This increase includes higher in-transit inventory due to the strategic decision to order and ship our fall product earlier. Great. The success of our geographic expansion strategy builds on our already flourishing boutique portfolio and positions Aritzia for continued growth into the future. . Thats about all the details the videoconference screen reveals. 2022 Women of Influence.All rights reserved. So where we land, we don't know at this point in time. So we're going to continue to push and open stores. Yes, I'll take that. We're also expanding our presence in Palo Alto with a new boutique for the fall. He's still Aritzia's biggest shareholder with nearly 19 percent of the equity and also controls about 70 percent of the voting power. For right now ( opens in new window ) 195 KB when pandemic! Following, 31 Posts - see Instagram photos and videos from Jennifer was... And 2 younger executives at Aritzia is CAD $ 1,224,000 'll host a question-and-answer open. Wong, those are her husband and 18-month old son a long-term view of the.. We finished the quarter with more clients than Ever before we also partnered Stonewall... Entire network our fall product earlier kind of simplebut not lacking for.... Right now in the short term are jennifer wong aritzia husband going to be looking into eCommerce Posts - see Instagram and! Stores to the distribution centre n't necessarily need to go to all -- through channels... Offset approximately 500 basis points of erosion from the use of expedited freight as as... 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To share a more detailed look at the University of British Columbia and planning to Get real...
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