Canadian luxury fashion label Aritzia is targeting revenue of up to CA$10.5 billion ($7.46 billion) by fiscal 2032, with the US remaining its primary growth market.

The company revealed its five-year strategic plan on Tuesday, which sets a net revenue goal of CA$9.5 to CA$10.5 billion in FY32, representing a compound annual growth rate of 15-17 per cent. 

The brand is also eyeing adjusted EBITDA of 21 per cent of net revenue, representing an increase of 100 basis points.

CEO Jennifer Wong said the strategy builds on the brand’s tremendous growth momentum.

“Our US business is delivering exceptional results and will remain our primary growth market through Fiscal 2032, with substantial runway still ahead. 

“At the same time, we will begin taking an important step toward our long-term ambition of becoming famous around the world,” Wong added.

The plan includes four key initiatives: Increased brand awareness, geographic expansion, sustained digital growth and product expansion.

Aritzia plans to open 12 to 14 boutiques in the US and reposition five to seven existing boutiques annually, with store count to reach 220 by FY32. The company will capitalize on premier real estate opportunities, while expanding its geographic reach beyond Canada and the US.

North America digital net revenue is expected to see a CAGR of about 20 per cent. Product expansion categories are expected to contribute approximately CA$1.5 billion in incremental net revenue.

The client base is forecasted to double by FY32.

Founded in 1984 in Vancouver, Aritzia currently has more than 145 boutiques in North America. The company reported a 43.4 per cent growth in revenue in its latest quarter, with the US accounting for 67.1 per cent of total sales.