In terms of the full year, the cut is not as bad as it looks at first sight as it is being driven by lower interest income.

I think the challenge in transforming an industrial brand into a luxury brand should not be underestimated.

Brian Blake appears to us to have the perfect background from his 17 years at Gucci in product areas where Burberry is still relatively weak, that is accessories and watches.

Any luxury company is susceptible to a slowdown in the U.S. or Japan. The macro issues are really more important for a luxury company.

In the long term, there are many factors that will help the luxury market, the creation of new wealth and the Asian tourist boom.

The reason companies want to go public now is that (luxury good stocks) are at record high valuations.