00:00So I wonder what you made of these latest results from carrying Deborah and crucially when we'll
00:06know whether Demner can last at Gucci as creative director? So yeah so the minus eight from Gucci
00:14was a disappointment. We were looking at more repair. It is showing a little bit of sequential
00:20improvement versus 4Q but there needs to be more done on product. So for Demner we see more of his
00:27products start to feed through from February when the product initially came out but it will be
00:32quarter by quarter with shows in April with more collaborations and more pieces I think by the end
00:38of the year. So that's the Gucci side and certainly the Capital Markets Day on Thursday it will be
00:43big focus on Gucci. Aside from that other big brands so Gucci has moved into fashion and leather
00:51goods as a division. They've pushed all of the brands together. I think that gives them more of
00:56a hierarchy but also they still allow you to see what's happening separately at Gucci. So we do have
01:02solid growth from the other brands and the company is saying the other big brands outside of Alexander
01:07McQueen which we know is in transition mode but the company is saying that by year end they expect
01:12Gucci year on year to also be in growth and to be margin accretive and that's the same for the
01:18other
01:18brands. So there's a lot going on on strategy execution focus on clients. They need to do more with
01:24Gucci in Asia for sure. So we'll wait to see that coming through. But elsewhere there are big divisions
01:31growing like jewellery up 22% eyewear up 7% so they've helped to really also offset if we look
01:40at
01:40curing overall flat growth. LVM age the day before was plus 1% you know so so there's quite a
01:47mix of
01:47what's going on there. All right Deborah thank you for that analysis. We'll also of course have
01:51Hermes results out later on but for now that's our Bloomberg Intelligence Senior Analyst for Global
01:56Luxury Goods Deborah Aiken.
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