Jean-Marc Duplaix

“Of course there is a wealth effect but it does benefit to the whole sector globally but what is very encouraging when it comes specifically to Gucci is that where the brand equity is the most sound and it's true that in the US or in North America historically Gucci brand equity, brand perception remains quite high.”

“Maybe, Edouard, reacting to your comment, it's true that as long as we have not the full impact of the Chinese New Year, it's difficult to assess clearly what could be the landing point for Q1.”