David Rosenthal: belief

Transcript context

…Yeah, or if not exclusively other than the czar. I suspect though that it was strategic of like, our French clients are going to go to these places, they're going to rub shoulders with the Americans, with the British, and then we're going to have a store there so that those Americans, those British, elite, can go purchase our products there too. Right. This, by the way, is a different retail strategy than what they have today. Today, management insists that the idea is that each store is for the local clientele. We will only expand into an area if we feel that we can serve the local clientele that lives there well. That's a recognition of the maturation of their business. The rich people are going to go find an Hermes store somewhere. It's easy for them to travel somewhere, buy it on vacation. But if we're going to open new stores, we should open it in places where there is a thriving new upper class who can buy the goods locally there in their city.…

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