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    Mario Ortelli

    Research Analyst at Sanford C. Bernstein & Co., LLC

    Mario Ortelli's questions to COMPAGNIE FINANCIERE RICHEMONT AG /FI (CFRUY) leadership

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

    Question

    Mario Ortelli of Bernstein asked about key trends in the jewelry market and Richemont's strategic response, as well as the long-term vision for watch distribution, particularly the mix of retail, wholesale, and online channels.

    Answer

    Chairman Johann Rupert predicted branded jewelry will continue to gain share from non-branded, with a growing demand for personalization. Nicolas Bos, CEO of Van Cleef & Arpels, confirmed growth across all price points. For watch distribution, Georges Kern, Head of Watchmaking, Marketing and Digital, outlined an omni-channel future, emphasizing a seamless customer experience where clients can buy when and where they want, integrating Richemont's own e-commerce, retail partners, and pure players.

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

    Question

    Mario Ortelli asked about the performance of Cartier watches by price point, the wholesale stocking of the new Cle de Cartier, pricing changes in H1 and plans for H2, and details on the full-year store opening target.

    Answer

    CFO Gary Saage confirmed the target of 50-60 net store openings for the year, with few internalizations. He stated there have been no pricing changes since May and none are planned unless currencies move significantly. For Cartier watches, he reported the Cle de Cartier is off to a good start, but higher-end gold pieces are underperforming in wholesale, whereas watches overall are growing in the retail channel.

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