Helen Brand's questions to COMPAGNIE FINANCIERE RICHEMONT AG /FI (CFRUY) leadership • FY 2017
Question
Helen Brand of UBS inquired about Richemont's digital strategy, including online sales on platforms like NET-A-PORTER and the use of social media, and asked for guidance on operating expense plans for the upcoming year.
Answer
Chairman Johann Rupert rejected the premise of needing to "catch up" digitally, citing Richemont's long-standing involvement with NET-A-PORTER and advanced integrated systems. He emphasized the goal is to be ahead of the curve in a rapidly evolving omni-channel environment. He and CFO Gary Saage firmly declined to provide specific forward-looking guidance on operating expenses, stating that spending will be allocated dynamically to what is deemed important and urgent.