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    Louise Singlehurst • Goldman Sachs

    Louise Singlehurst's questions to Birkenstock Holding PLC (BIRK) leadership

    Louise Singlehurst's questions to Birkenstock Holding PLC (BIRK) leadership • Q1 2025

    Question

    Louise Singlehurst of Goldman Sachs asked about the impact of new product launches on price mix and whether these new products are primarily attracting new customers or expanding the purchases of existing loyal customers.

    Answer

    President, EMEA Nico Bouyakhf explained that the company is seeing record performance in expansionary categories like shoes, with boots selling at a €200 price point. The strategy involves launching new, higher-priced styles in the D2C channel to loyal customers first, then leveraging that success to drive adoption and order growth in the B2B channel, which helps acquire new customers and drive market penetration.

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    Louise Singlehurst's questions to Ermenegildo Zegna NV (ZGN) leadership

    Louise Singlehurst's questions to Ermenegildo Zegna NV (ZGN) leadership • Q1 2024

    Question

    Louise Singlehurst of Goldman Sachs asked for confirmation of the medium-term outlook, the margin implications for the Zegna brand given the weakness in China, and any changes in regional perspectives.

    Answer

    Group COO and CFO Gianluca Tagliabue confirmed the medium-term outlook of above 10% sales CAGR and 20% EBIT CAGR remains unchanged. He explained that to protect margins amid softness in China, the company is managing discretionary operating expenses. Group CEO Gildo Zegna added that they are also carefully managing inventory levels, leveraging their integrated supply chain to mitigate impacts.

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