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    Kin Shun Ling • Jefferies Financial Group Inc.

    Kin Shun Ling's questions to Samsonite Group SA (SMSEY) leadership

    Kin Shun Ling's questions to Samsonite Group SA (SMSEY) leadership • Q1 2025

    Question

    Kin Shun Ling of Jefferies asked about the strategy for the American Tourister brand following its 10% sales decline and questioned when U.S. wholesalers would need to place orders for the peak Q4 season despite tariff uncertainty.

    Answer

    CEO Kyle Gendreau explained the American Tourister decline was due to cautious wholesale ordering amid tariff uncertainty, not a flaw in brand strategy, noting the brand is growing in other regions like India and Europe. CFO Reza Taleghani added that Q2 was already showing improvement. Gendreau also stated that the company is in constant, weekly communication with its key wholesale partners to manage order timing for the peak season and has ample time to execute.

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    Kin Shun Ling's questions to MINISO Group Holding Ltd (MNSO) leadership

    Kin Shun Ling's questions to MINISO Group Holding Ltd (MNSO) leadership • FY 2024

    Question

    Kin Shun Ling from Jefferies requested specific 2025 store opening targets for China, overseas markets, and directly-operated stores. She also asked about the strategy and financial impact of introducing third-party brands into MINISO stores.

    Answer

    Executive Guofu Ye stated the 2025 new store count will be flat with 2024, prioritizing quality over quantity. Executive Eason Zhang added plans include 10 new 'IP Lands' in China and expanding the U.S. footprint to 350-400 total stores. Guofu Ye explained that selling third-party beauty products attracts the target demographic and diversifies the portfolio, which positively impacts same-store sales and profitability.

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