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    John Guy

    Research Analyst at MainFirst Bank AG

    John Guy's questions to COMPAGNIE FINANCIERE RICHEMONT AG /FI (CFRUY) leadership

    John Guy's questions to COMPAGNIE FINANCIERE RICHEMONT AG /FI (CFRUY) leadership • FY 2017

    Question

    John Guy from MainFirst Bank asked for the rationale behind the new supply agreement with Swatch Group and questioned if Cartier Watches is shifting its price positioning towards more accessible products.

    Answer

    Chairman Johann Rupert explained the Swatch Group agreement is a strategic move for cost-efficiency and competitiveness, comparing it to component sharing in the auto industry. On Cartier's pricing, he asserted it is not a new strategy but a continuation of offering clients a full range of products, including accessible price points, which has always been part of the brand's history.

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    John Guy's questions to COMPAGNIE FINANCIERE RICHEMONT AG /FI (CFRUY) leadership • Q2 2016

    Question

    John Guy inquired about the store profile in Hong Kong and Macau, including potential closures, the price mix positioning of Cartier watches, and whether any pricing policy changes influenced October's trading results.

    Answer

    CFO Gary Saage confirmed that no pricing policy changes affected the October results and reiterated that retail was flat at constant currency. Regarding Hong Kong stores, he acknowledged the market is 'a bit over retailed' and that decisions on closures are made as leases expire, but the network remains highly profitable. He attributed jewelry success to the creativity of Cartier and Van Cleef & Arpels in a growing branded market.

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