David Rosenthal: belief

Transcript context

…It's super different. To your observation earlier that Bernard realized that luxury groups could be much better businesses than luxury brands, and have completely different methods of profitability and sustainability, I think that was super astute. I think this is where we'll tease it apart. Yup, totally. I think that as we talked about a lot earlier in the episode at the holding company level, there is now no doubt in my mind that LVMH has extreme scale economy power. I'm glad you bring that up. Bernard has a great quote. "We have been seeing for the past 25 years a growing desire for high quality products and an acceleration of buying power. Nowadays, the Internet makes this planet much smaller. Product launches now need to be global in order to be successful. When you start something today, you usually have to start it all over the world at the same time to be successful. You need to be able to see what's going on everywhere, instantly. This requires higher investment, which gives us an advantage."…

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