Latest / Let's talk Marketplace / “Spain is about more than just price” #LTM138

Transcript

“Spain is about more than just price” #LTM138 · Let's talk Marketplace

• 0:00
  The
• 0:00
  Spanish
• 0:00
  brands
• 0:01
  are
• 0:01
  much
• 0:01
  more
• 0:01
  agile.
• 0:02
  It's
• 0:02
  a
• 0:02
  dynamic
• 0:03
  market,
• 0:03
  not
• 0:03
  only
• 0:04
  driven
• 0:04
  by
• 0:04
  price.
• 0:04
  The
• 0:05
  European
• 0:05
  people
• 0:05
  think
• 0:06
  that
• 0:06
  in
• 0:07
  Spain
• 0:07
  you
• 0:07
  need
• 0:08
  to
• 0:08
  bring
• 0:08
  price.
• 0:08
  It's
• 0:09
  not
• 0:09
  only
• 0:09
  about
• 0:09
  having
• 0:10
  the
• 0:10
  right
• 0:10
  price,
• 0:10
  it's
• 0:11
  having
• 0:11
  the
• 0:11
  right
• 0:11
  service.
• 0:12
  It's
• 0:12
  having
• 0:12
  the
• 0:13
  capacity
• 0:13
  to
• 0:13
  play
• 0:14
  around
• 0:14
  the
• 0:14
  return
• 0:15
  issue.
• 0:20
  Let's
• 0:20
  Talk
• 0:20
  Marketplace
• 0:21
  the
• 0:21
  Marketplace
• 0:22
  podcast
• 0:22
  with
• 0:23
  Ingrid
• 0:23
  Lommer
• 0:24
  and
• 0:24
  Vana
• 0:24
  Ritistu.
• 0:28
  Welcome
• 0:28
  back
• 0:28
  to
• 0:28
  another
• 0:29
  episode
• 0:29
  of
• 0:29
  let's
• 0:30
  Talk
• 0:30
  Marketplace.
• 0:30
  I'm
• 0:31
  Ingrid,
• 0:31
  your
• 0:32
  host,
• 0:32
  as
• 0:32
  always,
• 0:32
  and
• 0:33
  today
• 0:33
  we
• 0:34
  will
• 0:34
  do
• 0:34
  some
• 0:34
  more
• 0:35
  traveling
• 0:36
  together.
• 0:37
  Regular
• 0:37
  listeners
• 0:38
  might
• 0:38
  remember
• 0:38
  we
• 0:39
  did
• 0:39
  a
• 0:39
  deep
• 0:39
  dive
• 0:40
  on
• 0:40
  the
• 0:40
  French
• 0:40
  fashion
• 0:41
  market
• 0:41
  last
• 0:41
  year
• 0:43
  with
• 0:43
  Deborah.
• 0:44
  And
• 0:45
  yeah,
• 0:46
  she
• 0:46
  was
• 0:46
  from
• 0:46
  the
• 0:46
  Marketplace
• 0:47
  consultancy,
• 0:48
  the
• 0:48
  Agent.
• 0:48
  And
• 0:48
  I
• 0:49
  distinctly
• 0:49
  remember
• 0:49
  her
• 0:50
  passionate
• 0:50
  plea
• 0:51
  against
• 0:51
  brands
• 0:52
  working
• 0:52
  with
• 0:53
  fast
• 0:53
  forward
• 0:54
  fashion
• 0:54
  giants
• 0:54
  like
• 0:54
  Shein.
• 0:55
  So
• 0:56
  that's
• 0:56
  where
• 0:56
  I
• 0:56
  got
• 0:57
  the
• 0:57
  idea
• 0:57
  from
• 0:57
  that
• 0:57
  we
• 0:58
  might
• 0:58
  dive
• 0:58
  a
• 0:58
  bit
• 0:58
  deeper
• 0:59
  into
• 0:59
  this
• 0:59
  topic
• 1:00
  and
• 1:01
  go
• 1:01
  to
• 1:01
  another
• 1:02
  key
• 1:03
  market
• 1:03
  in
• 1:03
  Europe.
• 1:04
  So
• 1:04
  let's
• 1:05
  head
• 1:05
  a
• 1:05
  bit
• 1:05
  more
• 1:06
  south
• 1:06
  towards
• 1:07
  Spain
• 1:07
  because
• 1:08
  that
• 1:08
  is
• 1:08
  a
• 1:08
  very
• 1:08
  fascinating
• 1:09
  landscape
• 1:10
  as
• 1:10
  well
• 1:11
  and
• 1:11
  maybe
• 1:11
  even
• 1:12
  more
• 1:12
  than
• 1:12
  France
• 1:12
  because
• 1:13
  here
• 1:13
  on
• 1:13
  the
• 1:14
  one
• 1:14
  hand
• 1:14
  the
• 1:14
  influence
• 1:14
  of
• 1:15
  Chinese
• 1:15
  player
• 1:15
  is
• 1:16
  even
• 1:16
  more
• 1:16
  massive.
• 1:17
  I
• 1:17
  think
• 1:17
  she
• 1:17
  and
• 1:18
  Timo
• 1:18
  Aliexpress
• 1:19
  all
• 1:19
  shaking
• 1:19
  up
• 1:19
  the
• 1:20
  ecosystem.
• 1:21
  And
• 1:21
  on
• 1:21
  the
• 1:21
  other
• 1:21
  hand,
• 1:22
  the
• 1:22
  Spanish
• 1:22
  e
• 1:22
  commerce
• 1:23
  scene
• 1:23
  is
• 1:23
  by
• 1:23
  far
• 1:24
  not
• 1:24
  as
• 1:24
  much
• 1:24
  developed
• 1:25
  as
• 1:25
  the
• 1:25
  French
• 1:26
  one.
• 1:26
  So
• 1:27
  fighting
• 1:27
  back
• 1:28
  could
• 1:28
  be
• 1:28
  a
• 1:29
  bit
• 1:29
  harder.
• 1:30
  But,
• 1:30
  well,
• 1:30
  you
• 1:31
  know
• 1:31
  what,
• 1:31
  what
• 1:31
  do
• 1:31
  I
• 1:31
  know?
• 1:32
  I'm
• 1:32
  not
• 1:32
  the
• 1:32
  expert
• 1:33
  for
• 1:33
  the
• 1:33
  Spanish
• 1:33
  market,
• 1:34
  but
• 1:34
  fortunately
• 1:35
  I
• 1:35
  know
• 1:36
  someone
• 1:36
  who
• 1:36
  is.
• 1:37
  That
• 1:37
  is
• 1:37
  a
• 1:38
  colleague
• 1:38
  of
• 1:38
  Deborah's
• 1:39
  and
• 1:39
  an
• 1:39
  absolute
• 1:40
  expert
• 1:40
  on
• 1:40
  the
• 1:40
  Spanish
• 1:41
  e
• 1:41
  commerce
• 1:41
  sector,
• 1:42
  especially
• 1:42
  on
• 1:42
  fashion.
• 1:43
  So
• 1:43
  a
• 1:44
  very
• 1:44
  warm
• 1:44
  welcome
• 1:44
  to
• 1:45
  Romain
• 1:45
  Emerich,
• 1:46
  managing
• 1:47
  partner
• 1:47
  of
• 1:47
  the
• 1:48
  Agent.
• 1:48
  So,
• 1:48
  Romain,
• 1:49
  it's
• 1:49
  really
• 1:49
  great
• 1:49
  to
• 1:50
  have.
• 1:50
  You
• 1:50
  on
• 1:50
  the
• 1:50
  show.
• 1:51
  Thank
• 1:51
  you,
• 1:52
  thank
• 1:52
  you
• 1:52
  for
• 1:52
  the
• 1:52
  invitation
• 1:53
  and
• 1:53
  happy
• 1:54
  to
• 1:55
  share
• 1:55
  a
• 1:55
  bit
• 1:55
  of
• 1:55
  knowledge.
• 1:56
  I
• 1:57
  don't
• 1:57
  know
• 1:57
  if
• 1:57
  I'm
• 1:57
  the
• 1:58
  real
• 1:58
  expert
• 1:58
  of
• 1:58
  the
• 1:58
  market,
• 1:59
  but
• 1:59
  at
• 1:59
  least
• 1:59
  I
• 1:59
  will
• 2:00
  share
• 2:00
  some
• 2:00
  knowledge
• 2:01
  and
• 2:01
  understanding
• 2:01
  of
• 2:02
  a
• 2:03
  country
• 2:03
  which
• 2:03
  is
• 2:04
  very
• 2:05
  different
• 2:05
  from
• 2:06
  France
• 2:07
  or
• 2:07
  even
• 2:07
  Germany
• 2:08
  and
• 2:08
  uk
• 2:08
  and
• 2:09
  happy
• 2:09
  to
• 2:09
  share
• 2:10
  some
• 2:12
  experience
• 2:13
  that
• 2:13
  we
• 2:14
  have
• 2:14
  and
• 2:14
  that
• 2:14
  I
• 2:14
  have
• 2:15
  in
• 2:15
  the
• 2:15
  Spanish
• 2:16
  market.
• 2:16
  Yeah,
• 2:17
  really,
• 2:17
  really
• 2:17
  cool.
• 2:17
  I'm
• 2:18
  looking
• 2:18
  forward
• 2:18
  to
• 2:18
  that.
• 2:19
  So
• 2:19
  maybe
• 2:21
  to
• 2:21
  start
• 2:21
  off,
• 2:22
  why
• 2:23
  don't
• 2:23
  we
• 2:23
  go
• 2:23
  a
• 2:23
  bit
• 2:23
  deeper
• 2:24
  into
• 2:24
  this?
• 2:24
  You're
• 2:24
  a
• 2:24
  Frenchman
• 2:25
  yourself,
• 2:25
  Justice
• 2:25
  Deborah.
• 2:26
  So
• 2:27
  what
• 2:27
  do
• 2:27
  you
• 2:27
  have
• 2:28
  to
• 2:28
  do
• 2:28
  with
• 2:28
  the
• 2:28
  Spanish
• 2:29
  e
• 2:29
  commerce
• 2:29
  market?
• 2:30
  Well,
• 2:31
  I
• 2:32
  have
• 2:32
  a
• 2:32
  long
• 2:32
  story
• 2:32
  with
• 2:33
  Spain
• 2:34
  actually.
• 2:34
  I
• 2:35
  am
• 2:35
  a
• 2:35
  French
• 2:35
  guy,
• 2:36
  but
• 2:36
  I've
• 2:36
  been
• 2:36
  living
• 2:37
  in
• 2:37
  Spain
• 2:37
  for
• 2:38
  more
• 2:38
  than
• 2:39
  30
• 2:39
  years
• 2:41
  and
• 2:41
  working
• 2:42
  into
• 2:42
  fashion
• 2:43
  and
• 2:43
  e
• 2:44
  commerce
• 2:44
  environment.
• 2:46
  So
• 2:46
  I
• 2:46
  have
• 2:46
  a
• 2:46
  quite
• 2:47
  a
• 2:47
  good
• 2:47
  knowledge
• 2:47
  of
• 2:48
  the
• 2:48
  Spanish
• 2:48
  market
• 2:49
  in
• 2:49
  terms
• 2:49
  of
• 2:50
  fashion.
• 2:50
  Distribution
• 2:51
  and
• 2:51
  not
• 2:51
  only
• 2:51
  E
• 2:52
  commerce.
• 2:52
  I've
• 2:53
  been
• 2:53
  running
• 2:54
  some
• 2:54
  brands
• 2:55
  myself
• 2:57
  into
• 2:57
  the
• 2:57
  Spanish
• 2:58
  market
• 2:58
  and
• 2:59
  then
• 2:59
  I
• 2:59
  had
• 2:59
  the
• 2:59
  chance
• 3:00
  a
• 3:00
  very
• 3:00
  long
• 3:00
  time
• 3:01
  ago
• 3:01
  now
• 3:01
  to
• 3:02
  set
• 3:02
  up
• 3:02
  the
• 3:03
  Spanish
• 3:04
  subsidiary
• 3:04
  of
• 3:05
  vp.com
• 3:07
  into
• 3:07
  the
• 3:07
  Spanish
• 3:07
  market
• 3:08
  at
• 3:08
  that
• 3:09
  time
• 3:10
  and
• 3:10
  now
• 3:12
  co
• 3:12
  managing
• 3:14
  the
• 3:14
  agent
• 3:14
  as
• 3:15
  well.
• 3:16
  And
• 3:16
  we
• 3:17
  settled
• 3:18
  ourselves
• 3:19
  more
• 3:19
  than
• 3:19
  three
• 3:20
  years
• 3:20
  ago
• 3:20
  into
• 3:20
  the
• 3:21
  Spanish
• 3:21
  market.
• 3:21
  We
• 3:21
  have
• 3:22
  some
• 3:22
  teams
• 3:22
  over
• 3:23
  there
• 3:24
  with
• 3:24
  a
• 3:25
  deep
• 3:25
  understanding
• 3:25
  of
• 3:26
  the
• 3:26
  complexities
• 3:26
  of
• 3:27
  the
• 3:27
  market,
• 3:28
  but
• 3:28
  also
• 3:28
  because
• 3:29
  it's
• 3:29
  a
• 3:30
  market,
• 3:30
  in
• 3:30
  my
• 3:30
  opinion,
• 3:31
  that
• 3:31
  goes
• 3:32
  into
• 3:33
  two
• 3:33
  directions
• 3:33
  for
• 3:34
  the
• 3:34
  fashion
• 3:35
  industry.
• 3:35
  There's
• 3:36
  a
• 3:36
  very,
• 3:37
  very
• 3:38
  large
• 3:38
  attitude
• 3:38
  into
• 3:39
  fashion.
• 3:39
  So
• 3:39
  a
• 3:39
  lot
• 3:39
  of
• 3:39
  brands,
• 3:40
  a
• 3:40
  lot
• 3:40
  of
• 3:40
  brands
• 3:41
  with
• 3:42
  a
• 3:43
  DNA
• 3:43
  that
• 3:43
  can
• 3:45
  international
• 3:46
  but
• 3:46
  also
• 3:48
  a
• 3:48
  market
• 3:48
  with
• 3:49
  some
• 3:50
  key
• 3:50
  challenges.
• 3:51
  We
• 3:52
  will
• 3:52
  talk
• 3:53
  about
• 3:53
  it
• 3:53
  I
• 3:53
  think
• 3:53
  later
• 3:54
  on.
• 3:54
  Key
• 3:54
  challenges.
• 3:55
  Firstly,
• 3:56
  because
• 3:59
  the
• 3:59
  actor,
• 4:00
  the
• 4:00
  player
• 4:00
  that
• 4:01
  used
• 4:01
  to
• 4:01
  be
• 4:01
  the
• 4:01
  king,
• 4:02
  which
• 4:02
  is
• 4:02
  El
• 4:03
  Court
• 4:03
  Ingles,
• 4:04
  has
• 4:05
  set
• 4:05
  up
• 4:05
  into
• 4:05
  the
• 4:05
  marketplace
• 4:06
  and
• 4:07
  environment
• 4:08
  some
• 4:08
  time
• 4:08
  ago,
• 4:08
  but
• 4:09
  with
• 4:09
  a
• 4:09
  particular
• 4:10
  approach.
• 4:11
  European
• 4:12
  players
• 4:13
  such
• 4:13
  as
• 4:14
  Asalando,
• 4:15
  American
• 4:16
  such
• 4:16
  as
• 4:16
  Amazon,
• 4:17
  are
• 4:17
  strongly
• 4:18
  present
• 4:18
  into
• 4:19
  Spain.
• 4:20
  And
• 4:20
  since
• 4:21
  some
• 4:21
  years
• 4:22
  now,
• 4:23
  first
• 4:23
  with
• 4:23
  Aliexpress,
• 4:25
  then
• 4:25
  with
• 4:25
  Meravia
• 4:27
  and
• 4:27
  now
• 4:27
  with
• 4:28
  Shin
• 4:28
  Otemu,
• 4:29
  there
• 4:29
  is
• 4:30
  a
• 4:30
  strong
• 4:31
  attitude
• 4:32
  from
• 4:32
  the
• 4:32
  Chinese
• 4:33
  players.
• 4:33
  So
• 4:34
  it's
• 4:34
  a
• 4:34
  tough
• 4:35
  market.
• 4:35
  Very
• 4:36
  interesting,
• 4:36
  very
• 4:37
  challenging,
• 4:39
  quite.
• 4:40
  I
• 4:40
  would
• 4:40
  say
• 4:42
  very
• 4:42
  dynamic,
• 4:44
  but
• 4:44
  very
• 4:44
  different
• 4:45
  from
• 4:45
  other
• 4:46
  markets
• 4:46
  into
• 4:46
  Europe.
• 4:48
  Yeah,
• 4:48
  absolutely.
• 4:49
  Looking
• 4:49
  forward
• 4:49
  to
• 4:49
  that.
• 4:50
  So
• 4:50
  Chinese
• 4:51
  players
• 4:51
  having
• 4:51
  attitude.
• 4:52
  I
• 4:52
  like
• 4:52
  that
• 4:53
  expression.
• 4:53
  I
• 4:54
  think
• 4:54
  we
• 4:54
  have
• 4:54
  to
• 4:54
  dive
• 4:54
  deeper
• 4:55
  into
• 4:55
  that
• 4:55
  a
• 4:55
  little
• 4:56
  later
• 4:56
  after
• 4:57
  a
• 4:57
  very
• 4:57
  short
• 4:58
  advertising
• 4:58
  break.
• 5:04
  Maybe
• 5:05
  one
• 5:05
  of
• 5:05
  your
• 5:05
  good
• 5:05
  resolutions
• 5:06
  for
• 5:06
  2026
• 5:07
  is
• 5:07
  to
• 5:08
  finally
• 5:08
  expand
• 5:09
  internationally
• 5:10
  and
• 5:10
  I
• 5:10
  can
• 5:11
  imagine
• 5:11
  your
• 5:11
  immediate
• 5:12
  reaction.
• 5:12
  But
• 5:13
  the
• 5:13
  bureaucracy
• 5:14
  and
• 5:14
  language
• 5:14
  barriers
• 5:15
  and
• 5:15
  the
• 5:15
  logistics.
• 5:17
  Yeah,
• 5:17
  these
• 5:17
  are
• 5:18
  yesterday's
• 5:19
  excuses,
• 5:19
  to
• 5:19
  be
• 5:20
  honest.
• 5:20
  With
• 5:20
  Kaufland
• 5:21
  Marketplace
• 5:21
  you
• 5:22
  can
• 5:22
  sell
• 5:22
  quickly
• 5:22
  and
• 5:23
  easily
• 5:23
  in
• 5:23
  seven
• 5:24
  countries
• 5:24
  and
• 5:24
  scale
• 5:25
  your
• 5:25
  business.
• 5:26
  Kaufland
• 5:26
  removes
• 5:27
  multiple
• 5:27
  hurdles
• 5:28
  at
• 5:28
  once
• 5:29
  with
• 5:29
  an
• 5:29
  integrated
• 5:30
  EPR
• 5:30
  service,
• 5:31
  professional
• 5:32
  translation
• 5:32
  tools
• 5:32
  and
• 5:33
  the
• 5:33
  Kaufland
• 5:34
  shipment
• 5:34
  solution.
• 5:35
  And
• 5:35
  your
• 5:35
  software,
• 5:36
  if
• 5:36
  you've
• 5:37
  got
• 5:37
  plentymon
• 5:38
  or
• 5:38
  GTL
• 5:38
  or
• 5:38
  Bilby
• 5:39
  or
• 5:39
  whatever.
• 5:40
  All
• 5:40
  major
• 5:40
  providers
• 5:41
  are
• 5:41
  already
• 5:41
  integrated,
• 5:42
  so
• 5:42
  the
• 5:43
  workflows
• 5:43
  are
• 5:43
  in
• 5:44
  place.
• 5:45
  All
• 5:45
  of
• 5:45
  this
• 5:45
  and
• 5:45
  much
• 5:46
  more
• 5:46
  is
• 5:46
  available
• 5:47
  starting
• 5:47
  at
• 5:47
  a
• 5:47
  base
• 5:48
  fee
• 5:48
  of
• 5:49
  39.95
• 5:50
  per
• 5:50
  month.
• 5:51
  And
• 5:51
  the
• 5:52
  best
• 5:52
  part,
• 5:52
  if
• 5:52
  you
• 5:52
  use
• 5:52
  the
• 5:53
  promo
• 5:53
  code
• 5:53
  MPUNI2026
• 5:57
  when
• 5:57
  registering
• 5:58
  new
• 5:59
  sellers
• 5:59
  can
• 5:59
  sell
• 6:00
  for
• 6:00
  three
• 6:00
  months
• 6:01
  without
• 6:01
  paying
• 6:01
  the
• 6:01
  base
• 6:02
  fee,
• 6:02
  but
• 6:03
  only
• 6:03
  until
• 6:04
  March
• 6:04
  31.
• 6:05
  So
• 6:05
  register
• 6:06
  now
• 6:06
  on
• 6:06
  Kaufland
• 6:07
  Global
• 6:07
  Marketplace.
• 6:08
  You'll
• 6:08
  find
• 6:08
  the
• 6:08
  link,
• 6:09
  as
• 6:09
  always,
• 6:09
  in
• 6:09
  the
• 6:10
  show
• 6:10
  notes.
• 6:15
  Okay,
• 6:15
  Remaan,
• 6:16
  and
• 6:16
  then
• 6:17
  let's
• 6:17
  go
• 6:18
  into
• 6:18
  it
• 6:18
  because
• 6:19
  something
• 6:19
  stuck
• 6:20
  with
• 6:20
  me
• 6:20
  from
• 6:20
  your
• 6:20
  introduction
• 6:21
  when
• 6:21
  you
• 6:21
  said
• 6:22
  when
• 6:22
  you
• 6:23
  were
• 6:23
  building
• 6:23
  up
• 6:23
  VP
• 6:24
  for
• 6:24
  The
• 6:24
  Spanish
• 6:25
  market
• 6:25
  and
• 6:26
  entering
• 6:26
  Spain
• 6:27
  as
• 6:28
  a
• 6:28
  person
• 6:29
  very
• 6:29
  deeply
• 6:30
  involved
• 6:30
  in
• 6:31
  the
• 6:31
  French
• 6:31
  fashion
• 6:32
  ecosystem
• 6:33
  and
• 6:33
  now
• 6:33
  coming
• 6:34
  to
• 6:34
  Spain.
• 6:35
  So
• 6:35
  what
• 6:35
  do
• 6:35
  you
• 6:36
  say
• 6:37
  in
• 6:37
  like,
• 6:37
  in
• 6:37
  one
• 6:38
  sentence,
• 6:38
  how
• 6:39
  different,
• 6:40
  in
• 6:40
  what
• 6:40
  way
• 6:41
  is
• 6:41
  the
• 6:41
  Spanish
• 6:41
  market
• 6:41
  different
• 6:42
  from
• 6:42
  the
• 6:42
  French
• 6:43
  market
• 6:43
  when
• 6:43
  it
• 6:44
  comes
• 6:44
  to
• 6:44
  fashion?
• 6:45
  When
• 6:46
  it
• 6:46
  comes
• 6:46
  to
• 6:46
  fashion?
• 6:47
  Firstly,
• 6:47
  today,
• 6:48
  if
• 6:49
  I
• 6:49
  look
• 6:49
  at
• 6:49
  the
• 6:50
  knowledge
• 6:50
  that
• 6:50
  we
• 6:50
  have
• 6:51
  today,
• 6:52
  I
• 6:52
  see
• 6:53
  that
• 6:53
  the
• 6:54
  Spanish
• 6:54
  brands
• 6:54
  are
• 6:55
  much
• 6:55
  more
• 6:55
  agile.
• 6:56
  So
• 6:57
  at
• 6:57
  the
• 6:57
  end
• 6:57
  of
• 6:57
  the
• 6:57
  day
• 6:58
  about
• 6:58
  the
• 6:58
  market,
• 6:59
  I
• 6:59
  would
• 6:59
  say
• 7:00
  that
• 7:01
  it's
• 7:01
  a
• 7:02
  dynamic
• 7:02
  market,
• 7:02
  not
• 7:03
  only
• 7:03
  driven
• 7:03
  by
• 7:04
  price.
• 7:04
  Okay,
• 7:05
  Most
• 7:05
  of
• 7:05
  the,
• 7:06
  the
• 7:07
  people,
• 7:08
  let's
• 7:08
  say,
• 7:08
  and
• 7:08
  the
• 7:09
  European
• 7:09
  people
• 7:09
  think
• 7:10
  that
• 7:12
  in
• 7:12
  Spain
• 7:13
  you
• 7:13
  need
• 7:14
  to
• 7:14
  bring
• 7:14
  price,
• 7:17
  it's
• 7:17
  part
• 7:17
  of
• 7:18
  being
• 7:18
  right,
• 7:19
  but
• 7:20
  it's
• 7:20
  also
• 7:21
  bringing
• 7:21
  the
• 7:22
  right
• 7:22
  level
• 7:23
  of
• 7:23
  service.
• 7:23
  For
• 7:24
  example,
• 7:26
  the
• 7:26
  return
• 7:27
  process
• 7:27
  when
• 7:27
  you
• 7:28
  want
• 7:28
  to
• 7:28
  sell
• 7:28
  in
• 7:28
  Spain
• 7:30
  and
• 7:30
  the
• 7:30
  return
• 7:30
  process
• 7:31
  of
• 7:31
  the,
• 7:31
  of
• 7:31
  the
• 7:32
  marketplaces
• 7:32
  in
• 7:32
  Spain
• 7:33
  needs
• 7:33
  to
• 7:33
  be
• 7:33
  adapted
• 7:34
  to
• 7:34
  the
• 7:35
  habit
• 7:35
  of
• 7:35
  the
• 7:36
  consumer.
• 7:37
  I
• 7:37
  give
• 7:37
  you
• 7:37
  an
• 7:38
  example.
• 7:39
  When
• 7:39
  you
• 7:39
  buy
• 7:39
  on
• 7:40
  Kotinglis,
• 7:43
  70
• 7:43
  to
• 7:43
  80%
• 7:44
  of
• 7:44
  the
• 7:44
  returns
• 7:46
  go
• 7:46
  back
• 7:48
  within
• 7:48
  the
• 7:49
  stores.
• 7:49
  So
• 7:50
  you
• 7:50
  need
• 7:50
  to
• 7:50
  be
• 7:50
  able
• 7:51
  to
• 7:52
  pick
• 7:52
  up
• 7:53
  those
• 7:53
  returns
• 7:53
  at
• 7:53
  the
• 7:54
  stores
• 7:54
  and
• 7:55
  bring
• 7:55
  those
• 7:55
  returns
• 7:56
  to
• 7:56
  you.
• 7:56
  Because
• 7:56
  the
• 7:57
  habit
• 7:57
  of
• 7:57
  the
• 7:57
  consumer
• 7:58
  buying
• 7:58
  on
• 7:58
  Kortingless
• 7:59
  is
• 7:59
  that
• 7:59
  he
• 7:59
  goes
• 7:59
  quite
• 7:59
  often
• 8:00
  to
• 8:00
  the
• 8:00
  stores
• 8:00
  and
• 8:01
  he
• 8:01
  brings
• 8:01
  his
• 8:01
  return
• 8:02
  to
• 8:02
  the
• 8:02
  store.
• 8:03
  So
• 8:03
  at
• 8:03
  the
• 8:03
  end
• 8:04
  of
• 8:04
  the
• 8:04
  day,
• 8:04
  the
• 8:05
  complexity
• 8:05
  to
• 8:06
  run
• 8:06
  the
• 8:07
  Spanish
• 8:07
  market,
• 8:08
  it's
• 8:08
  not
• 8:08
  only
• 8:08
  about
• 8:09
  having
• 8:09
  the
• 8:09
  right
• 8:09
  price,
• 8:10
  it's
• 8:10
  having
• 8:10
  the
• 8:10
  right
• 8:11
  service.
• 8:11
  It's
• 8:12
  having
• 8:12
  the
• 8:13
  capacity
• 8:13
  to
• 8:14
  play
• 8:14
  around
• 8:14
  the
• 8:15
  return
• 8:15
  issue
• 8:16
  according
• 8:17
  to
• 8:18
  the
• 8:19
  expectation
• 8:19
  of
• 8:20
  the
• 8:20
  consumer.
• 8:21
  And
• 8:21
  it's
• 8:21
  a
• 8:22
  market
• 8:23
  very
• 8:24
  dynamic
• 8:24
  into
• 8:26
  proposing
• 8:27
  new
• 8:28
  innovation,
• 8:29
  new
• 8:30
  products,
• 8:30
  new
• 8:31
  new
• 8:31
  trends.
• 8:33
  It's
• 8:33
  a
• 8:33
  very
• 8:33
  dynamic
• 8:34
  market
• 8:35
  in
• 8:35
  terms
• 8:35
  of
• 8:36
  fashion
• 8:36
  trends.
• 8:37
  And
• 8:37
  this
• 8:38
  is
• 8:38
  not
• 8:38
  very
• 8:38
  known
• 8:40
  from
• 8:41
  people
• 8:41
  outside
• 8:41
  Spain.
• 8:42
  We
• 8:43
  have,
• 8:43
  unfortunately,
• 8:45
  the
• 8:45
  visibility
• 8:46
  most
• 8:47
  of
• 8:47
  the
• 8:47
  time
• 8:47
  of
• 8:47
  if
• 8:48
  I
• 8:48
  want
• 8:48
  to
• 8:48
  sell
• 8:48
  in
• 8:49
  Spain,
• 8:49
  I
• 8:49
  need
• 8:49
  to
• 8:50
  have
• 8:50
  the
• 8:50
  right
• 8:51
  price
• 8:51
  or
• 8:51
  the
• 8:52
  right
• 8:52
  promotion
• 8:53
  pressure.
• 8:55
  It
• 8:55
  goes
• 8:56
  very
• 8:57
  much
• 8:58
  further
• 8:58
  than
• 8:58
  this.
• 8:58
  And
• 8:59
  in
• 8:59
  a
• 8:59
  way,
• 9:00
  this
• 9:00
  is
• 9:01
  why
• 9:01
  Chinese
• 9:03
  websites
• 9:05
  went
• 9:05
  quite
• 9:05
  fast
• 9:06
  into
• 9:06
  Spain,
• 9:06
  because
• 9:07
  they
• 9:07
  understood
• 9:07
  this
• 9:08
  point.
• 9:08
  Not
• 9:08
  only
• 9:09
  the
• 9:09
  pricing,
• 9:10
  not
• 9:10
  only
• 9:11
  the,
• 9:12
  let's
• 9:13
  say,
• 9:14
  good
• 9:14
  product
• 9:14
  at
• 9:15
  the
• 9:15
  good
• 9:15
  price,
• 9:16
  but
• 9:16
  also
• 9:17
  this,
• 9:18
  this,
• 9:19
  how
• 9:19
  can
• 9:20
  I
• 9:20
  say
• 9:20
  this
• 9:21
  capacity
• 9:21
  to
• 9:22
  bring
• 9:22
  a
• 9:22
  lot
• 9:23
  of
• 9:23
  novelties
• 9:23
  on
• 9:24
  a
• 9:24
  short
• 9:24
  period
• 9:24
  of
• 9:25
  time,
• 9:25
  matching
• 9:26
  the
• 9:26
  right
• 9:26
  trend.
• 9:27
  And
• 9:27
  if
• 9:27
  you
• 9:27
  look
• 9:27
  at
• 9:29
  a
• 9:29
  killer
• 9:30
  player
• 9:30
  like
• 9:31
  Inditex
• 9:32
  and
• 9:32
  Zara,
• 9:34
  this
• 9:34
  is
• 9:34
  what
• 9:35
  made
• 9:35
  them
• 9:36
  being
• 9:36
  successful
• 9:37
  worldwide.
• 9:38
  It's
• 9:38
  not
• 9:38
  only
• 9:38
  because
• 9:39
  of
• 9:39
  the
• 9:39
  pricing,
• 9:40
  it's
• 9:40
  because
• 9:41
  of
• 9:41
  having
• 9:41
  the
• 9:42
  right
• 9:42
  trend
• 9:42
  at
• 9:42
  the
• 9:43
  right
• 9:43
  moment.
• 9:43
  And
• 9:43
  the
• 9:44
  consumer
• 9:44
  in
• 9:44
  Spain
• 9:44
  is
• 9:45
  looking
• 9:45
  for
• 9:45
  this.
• 9:46
  That's
• 9:46
  an
• 9:46
  interesting
• 9:47
  point
• 9:47
  that
• 9:47
  you're
• 9:47
  raising
• 9:48
  there
• 9:48
  because
• 9:48
  that's
• 9:49
  normally
• 9:49
  what
• 9:49
  we
• 9:50
  reduce
• 9:50
  the
• 9:51
  success
• 9:51
  to
• 9:51
  the
• 9:51
  Chinese
• 9:52
  players
• 9:52
  too
• 9:52
  is
• 9:53
  because
• 9:53
  they
• 9:53
  are
• 9:53
  cheap
• 9:54
  and
• 9:55
  they
• 9:55
  can
• 9:55
  offer
• 9:56
  stuff
• 9:56
  in
• 9:57
  the
• 9:57
  most
• 9:57
  cheapest
• 9:58
  area
• 9:58
  of
• 9:59
  the
• 9:59
  entry
• 9:59
  point,
• 10:00
  point,
• 10:00
  price.
• 10:01
  Price
• 10:01
  points
• 10:02
  that
• 10:02
  no
• 10:02
  one
• 10:02
  else
• 10:02
  can
• 10:03
  go
• 10:03
  to.
• 10:03
  But
• 10:05
  if
• 10:05
  I
• 10:05
  get
• 10:05
  you
• 10:05
  correctly,
• 10:06
  you're
• 10:06
  saying,
• 10:06
  yeah,
• 10:07
  they
• 10:07
  do
• 10:07
  that,
• 10:07
  but
• 10:08
  they
• 10:08
  also
• 10:08
  understand
• 10:09
  that
• 10:09
  they
• 10:09
  don't.
• 10:10
  They
• 10:10
  can't
• 10:10
  just
• 10:11
  sell
• 10:11
  any
• 10:13
  stuff,
• 10:13
  any.
• 10:14
  Anything
• 10:15
  that
• 10:15
  is
• 10:16
  not
• 10:17
  fashion,
• 10:18
  that
• 10:18
  is
• 10:18
  not
• 10:19
  up
• 10:20
  to
• 10:20
  date
• 10:20
  or
• 10:20
  that
• 10:20
  is
• 10:21
  not,
• 10:21
  I
• 10:21
  don't
• 10:21
  know,
• 10:21
  going
• 10:22
  for
• 10:22
  the
• 10:22
  trends
• 10:22
  or
• 10:23
  whatever.
• 10:23
  So.
• 10:24
  So
• 10:24
  you
• 10:25
  would
• 10:25
  say
• 10:25
  that
• 10:25
  she
• 10:25
  is
• 10:27
  as
• 10:27
  much
• 10:27
  a
• 10:27
  cheap
• 10:28
  player
• 10:28
  in
• 10:28
  Spain
• 10:29
  as
• 10:29
  it
• 10:29
  is
• 10:29
  a
• 10:29
  fashion
• 10:30
  player.
• 10:31
  Yeah,
• 10:31
  I
• 10:31
  mean,
• 10:32
  I'm
• 10:32
  going
• 10:32
  to
• 10:32
  be
• 10:32
  very
• 10:32
  honest
• 10:34
  and
• 10:34
  I
• 10:34
  have
• 10:34
  the
• 10:34
  same
• 10:34
  culture
• 10:35
  of
• 10:35
  Deborah
• 10:37
  here
• 10:37
  in
• 10:37
  France.
• 10:38
  We
• 10:38
  are,
• 10:38
  we
• 10:38
  are
• 10:38
  quite
• 10:39
  all
• 10:39
  the
• 10:39
  fashion
• 10:40
  industry.
• 10:40
  We
• 10:40
  are
• 10:41
  quite
• 10:41
  linked
• 10:41
  together
• 10:41
  about,
• 10:42
  you
• 10:42
  know,
• 10:43
  about
• 10:43
  being
• 10:43
  very,
• 10:44
  very
• 10:44
  careful
• 10:45
  about
• 10:45
  those,
• 10:45
  those
• 10:45
  players
• 10:46
  such
• 10:46
  Sheen.
• 10:47
  But
• 10:48
  I
• 10:48
  would
• 10:48
  say
• 10:48
  that
• 10:49
  apart
• 10:49
  from
• 10:49
  the
• 10:50
  pricing
• 10:50
  point,
• 10:52
  mostly
• 10:53
  due
• 10:53
  to
• 10:53
  the
• 10:53
  fact
• 10:53
  that
• 10:54
  the,
• 10:55
  the
• 10:55
  production
• 10:56
  system
• 10:56
  of
• 10:56
  Shein
• 10:57
  is
• 10:57
  very,
• 10:57
  very
• 10:58
  industrialized
• 10:59
  and
• 10:59
  very,
• 11:00
  very,
• 11:01
  very
• 11:01
  aggressive.
• 11:02
  So
• 11:02
  this
• 11:02
  is
• 11:03
  why
• 11:03
  price
• 11:03
  point
• 11:03
  is
• 11:04
  an
• 11:04
  option
• 11:04
  for
• 11:04
  them.
• 11:06
  What
• 11:06
  I
• 11:06
  look
• 11:06
  at
• 11:06
  Shein,
• 11:07
  it's
• 11:08
  also
• 11:08
  the
• 11:08
  fact
• 11:08
  that
• 11:09
  they
• 11:09
  are,
• 11:10
  and
• 11:10
  I
• 11:10
  want
• 11:10
  to
• 11:10
  say
• 11:11
  maybe
• 11:12
  unfortunately
• 11:13
  for
• 11:13
  the
• 11:13
  European
• 11:14
  brands,
• 11:14
  capable
• 11:15
  to
• 11:15
  bring
• 11:16
  very
• 11:16
  quickly
• 11:17
  the
• 11:18
  trend
• 11:18
  and
• 11:18
  the
• 11:18
  right.
• 11:19
  And
• 11:20
  in
• 11:20
  Spain,
• 11:22
  a
• 11:22
  player
• 11:22
  like
• 11:23
  Sheen,
• 11:24
  a
• 11:24
  player
• 11:24
  like
• 11:25
  AliExpress
• 11:25
  that
• 11:26
  was
• 11:26
  on
• 11:26
  the
• 11:26
  market
• 11:26
  before
• 11:26
  Sheen,
• 11:29
  are
• 11:29
  capable
• 11:29
  to
• 11:30
  bring
• 11:30
  this
• 11:30
  to
• 11:31
  the
• 11:31
  Spanish
• 11:32
  consumer.
• 11:32
  And
• 11:33
  the
• 11:33
  Spanish
• 11:33
  consumer
• 11:34
  is
• 11:35
  maybe
• 11:35
  for
• 11:36
  myself,
• 11:36
  unfortunately,
• 11:37
  looking
• 11:38
  a
• 11:38
  bit
• 11:38
  to
• 11:38
  that.
• 11:40
  As
• 11:40
  I
• 11:41
  said
• 11:41
  in
• 11:41
  the
• 11:41
  introduction,
• 11:42
  what
• 11:42
  also
• 11:43
  struck
• 11:43
  me
• 11:43
  about
• 11:43
  the
• 11:43
  Spanish
• 11:44
  market
• 11:44
  is
• 11:44
  especially
• 11:45
  if
• 11:45
  you
• 11:45
  compare
• 11:45
  it
• 11:45
  to
• 11:46
  something,
• 11:47
  a
• 11:47
  market
• 11:47
  like
• 11:47
  France,
• 11:48
  also
• 11:48
  Germany,
• 11:49
  what
• 11:50
  struck
• 11:50
  me
• 11:50
  is
• 11:50
  that
• 11:50
  there
• 11:51
  is
• 11:51
  such
• 11:51
  a
• 11:51
  lack
• 11:51
  of
• 11:52
  local,
• 11:53
  strong
• 11:54
  local
• 11:54
  players.
• 11:55
  I
• 11:55
  mean,
• 11:55
  there
• 11:55
  is
• 11:55
  El
• 11:55
  Cotti
• 11:56
  Ingles,
• 11:57
  but
• 11:57
  apart
• 11:58
  from
• 11:58
  that,
• 11:58
  I
• 11:59
  had
• 11:59
  trouble
• 12:00
  finding
• 12:00
  anyone.
• 12:01
  So.
• 12:02
  Yeah,
• 12:02
  was
• 12:02
  that,
• 12:03
  is
• 12:04
  that
• 12:04
  correct
• 12:04
  from
• 12:04
  your
• 12:04
  point
• 12:04
  of
• 12:05
  view?
• 12:05
  It's
• 12:06
  the
• 12:06
  particularity,
• 12:08
  this
• 12:08
  is
• 12:08
  right
• 12:08
  also
• 12:09
  into
• 12:09
  Italy,
• 12:09
  you
• 12:09
  know,
• 12:10
  so
• 12:10
  at
• 12:10
  the
• 12:10
  end
• 12:10
  of
• 12:10
  the
• 12:10
  day,
• 12:10
  this
• 12:11
  is
• 12:11
  the
• 12:11
  particularity
• 12:12
  of
• 12:12
  southern
• 12:12
  European
• 12:13
  countries.
• 12:14
  Very
• 12:15
  first
• 12:16
  of
• 12:16
  all,
• 12:17
  Spain,
• 12:19
  it's
• 12:19
  very
• 12:20
  centralized
• 12:20
  country.
• 12:21
  You
• 12:21
  know,
• 12:21
  you
• 12:21
  have
• 12:21
  Barcelona,
• 12:22
  you
• 12:22
  have
• 12:22
  Madrid.
• 12:23
  And
• 12:23
  all
• 12:24
  businesses
• 12:24
  are
• 12:25
  very,
• 12:25
  very
• 12:25
  centric
• 12:26
  in
• 12:26
  those
• 12:26
  two
• 12:26
  areas.
• 12:27
  So
• 12:28
  all
• 12:29
  businesses
• 12:29
  that,
• 12:31
  that
• 12:31
  were
• 12:31
  born
• 12:33
  are
• 12:33
  at
• 12:33
  the
• 12:33
  end
• 12:33
  of
• 12:34
  the
• 12:34
  day
• 12:34
  very,
• 12:35
  I
• 12:35
  want
• 12:35
  to
• 12:35
  say,
• 12:36
  very,
• 12:37
  very
• 12:37
  single.
• 12:38
  So
• 12:39
  Cort
• 12:39
  Ingles
• 12:40
  is
• 12:42
  a
• 12:42
  heavy
• 12:42
  elephant.
• 12:43
  From
• 12:44
  the
• 12:45
  brick
• 12:45
  and
• 12:46
  mortar
• 12:47
  historical
• 12:47
  distribution
• 12:48
  into
• 12:48
  Spain
• 12:49
  with
• 12:49
  I
• 12:50
  think
• 12:50
  more
• 12:50
  than
• 12:50
  100
• 12:51
  stores
• 12:52
  came
• 12:53
  late
• 12:54
  into
• 12:54
  the
• 12:54
  E
• 12:54
  Commerce,
• 12:55
  but
• 12:56
  being
• 12:57
  very
• 12:57
  strong
• 12:59
  into
• 13:00
  E
• 13:00
  Commerce
• 13:00
  very
• 13:00
  soon
• 13:01
  because
• 13:01
  there
• 13:01
  was
• 13:01
  no
• 13:01
  other
• 13:02
  option
• 13:02
  at
• 13:02
  that
• 13:02
  time.
• 13:05
  But
• 13:07
  like
• 13:07
  Italy,
• 13:09
  in
• 13:09
  terms
• 13:10
  of
• 13:10
  local
• 13:10
  option
• 13:11
  for
• 13:11
  fashion,
• 13:13
  you
• 13:13
  don't
• 13:13
  have
• 13:13
  that
• 13:13
  many
• 13:14
  things.
• 13:15
  So
• 13:15
  this
• 13:15
  is
• 13:16
  also
• 13:16
  very
• 13:16
  interesting
• 13:17
  to
• 13:17
  understand
• 13:18
  that
• 13:18
  for
• 13:19
  foreign
• 13:20
  players
• 13:22
  such
• 13:22
  as
• 13:22
  Amazon,
• 13:23
  such
• 13:23
  as
• 13:24
  Zalando,
• 13:25
  Chinese,
• 13:28
  there
• 13:29
  is
• 13:29
  an
• 13:29
  option
• 13:30
  to
• 13:30
  be
• 13:30
  considered
• 13:31
  as
• 13:31
  local.
• 13:32
  But
• 13:32
  in
• 13:33
  my
• 13:33
  opinion,
• 13:35
  except
• 13:36
  a
• 13:36
  bit
• 13:36
  for
• 13:36
  the
• 13:36
  Chinese.
• 13:37
  An
• 13:37
  example,
• 13:38
  Meravia,
• 13:40
  those
• 13:40
  players
• 13:43
  didn't
• 13:43
  really
• 13:44
  play
• 13:44
  the
• 13:44
  game
• 13:44
  to
• 13:45
  be
• 13:45
  local.
• 13:46
  For
• 13:46
  example,
• 13:47
  Amazon
• 13:48
  went
• 13:49
  very
• 13:49
  late
• 13:49
  into
• 13:50
  Spain
• 13:52
  with
• 13:52
  a
• 13:52
  local
• 13:53
  entity
• 13:53
  with
• 13:54
  local
• 13:54
  teams.
• 13:57
  Zalando
• 13:58
  did
• 13:58
  a
• 13:58
  try
• 14:00
  get
• 14:00
  out
• 14:01
  and
• 14:01
  now
• 14:01
  he's
• 14:02
  starting
• 14:02
  to
• 14:02
  come
• 14:03
  back
• 14:04
  step
• 14:04
  by
• 14:04
  step.
• 14:06
  In
• 14:06
  those
• 14:06
  countries,
• 14:07
  if
• 14:07
  you
• 14:07
  want
• 14:07
  to
• 14:07
  be
• 14:08
  successful,
• 14:08
  you
• 14:08
  need
• 14:09
  to
• 14:09
  be
• 14:09
  perceived
• 14:10
  as
• 14:11
  someone
• 14:11
  local.
• 14:13
  Local
• 14:13
  for
• 14:15
  the
• 14:15
  partners
• 14:15
  you
• 14:16
  partner
• 14:16
  with.
• 14:16
  So
• 14:18
  in
• 14:19
  our
• 14:20
  ecosystem
• 14:20
  is
• 14:21
  brands,
• 14:22
  but
• 14:22
  local
• 14:22
  towards
• 14:23
  the
• 14:23
  consumer
• 14:24
  because
• 14:25
  you
• 14:25
  don't
• 14:27
  run
• 14:27
  the
• 14:27
  business
• 14:28
  and
• 14:28
  you
• 14:28
  don't
• 14:29
  sell
• 14:29
  the
• 14:29
  same
• 14:29
  way
• 14:30
  into
• 14:30
  Spain
• 14:31
  than
• 14:31
  into
• 14:32
  UK
• 14:32
  or
• 14:32
  Germany.
• 14:34
  And
• 14:35
  my
• 14:35
  understanding
• 14:36
  of
• 14:37
  how
• 14:38
  companies
• 14:39
  run
• 14:39
  the
• 14:39
  Spanish
• 14:39
  market
• 14:40
  sometimes
• 14:40
  is
• 14:40
  that
• 14:41
  they
• 14:42
  don't
• 14:43
  play
• 14:43
  local.
• 14:45
  Well,
• 14:45
  then
• 14:45
  let's
• 14:46
  talk
• 14:46
  about
• 14:47
  the
• 14:47
  local
• 14:47
  player
• 14:47
  for
• 14:48
  a
• 14:48
  second
• 14:48
  here.
• 14:49
  Cort
• 14:49
  Ingles.
• 14:50
  It's
• 14:51
  one
• 14:51
  of
• 14:51
  those
• 14:51
  marketplaces
• 14:52
  that
• 14:53
  I
• 14:53
  always
• 14:53
  hear
• 14:54
  about
• 14:55
  in
• 14:55
  a
• 14:56
  negative
• 14:56
  way,
• 14:56
  actually,
• 14:56
  because
• 14:57
  German
• 14:58
  brands
• 14:58
  come
• 14:58
  to
• 14:58
  me
• 14:58
  and
• 14:59
  say,
• 14:59
  what
• 14:59
  is
• 14:59
  up
• 14:59
  with
• 15:00
  those
• 15:00
  guys?
• 15:00
  Delacorte
• 15:01
  Ingles,
• 15:02
  why
• 15:03
  can
• 15:03
  I
• 15:03
  only
• 15:03
  upload
• 15:04
  my
• 15:05
  products
• 15:05
  with
• 15:06
  Excels
• 15:06
  or
• 15:08
  CSVs
• 15:09
  or
• 15:09
  whatever?
• 15:09
  So
• 15:10
  why
• 15:10
  is
• 15:10
  all
• 15:10
  the
• 15:10
  RP
• 15:11
  so
• 15:11
  bad?
• 15:11
  Why
• 15:12
  is
• 15:12
  the
• 15:12
  connection
• 15:12
  bad?
• 15:13
  Why
• 15:13
  is
• 15:13
  it
• 15:14
  so
• 15:14
  difficult
• 15:14
  to
• 15:15
  sell
• 15:15
  on
• 15:16
  Alcottian
• 15:16
  glaze?
• 15:17
  But
• 15:18
  from
• 15:18
  what
• 15:18
  you
• 15:18
  said
• 15:19
  up
• 15:19
  to
• 15:19
  now,
• 15:20
  I
• 15:20
  gather
• 15:22
  whoever
• 15:22
  wants
• 15:23
  to
• 15:23
  conquer
• 15:23
  the
• 15:23
  Spanish
• 15:24
  market
• 15:24
  won't
• 15:25
  get
• 15:25
  around
• 15:25
  El
• 15:25
  Cortian
• 15:26
  Glass.
• 15:26
  Is
• 15:26
  that
• 15:26
  correct?
• 15:27
  It's
• 15:27
  correct.
• 15:28
  It's
• 15:28
  correct.
• 15:29
  And
• 15:29
  there
• 15:29
  is
• 15:30
  a
• 15:30
  but.
• 15:30
  But
• 15:30
  the
• 15:31
  but
• 15:31
  is
• 15:31
  changing
• 15:32
  a
• 15:32
  bit
• 15:32
  recently.
• 15:34
  Courtingless
• 15:35
  is
• 15:36
  a
• 15:37
  department
• 15:37
  store,
• 15:38
  as
• 15:38
  everybody
• 15:38
  knows.
• 15:39
  And
• 15:40
  like
• 15:41
  Galeries
• 15:41
  Lafayette
• 15:42
  here
• 15:42
  in
• 15:42
  France.
• 15:43
  I
• 15:44
  don't
• 15:44
  have
• 15:44
  the
• 15:44
  knowledge
• 15:45
  that
• 15:45
  much
• 15:45
  for
• 15:45
  the
• 15:45
  German
• 15:46
  market,
• 15:46
  but
• 15:46
  I
• 15:46
  know
• 15:47
  it's
• 15:47
  also
• 15:47
  the
• 15:48
  same
• 15:48
  into
• 15:48
  uk,
• 15:49
  into
• 15:49
  the
• 15:49
  department
• 15:50
  stores.
• 15:51
  The
• 15:51
  buying
• 15:52
  teams
• 15:52
  have
• 15:53
  a
• 15:53
  kind
• 15:53
  of
• 15:54
  decision
• 15:54
  power.
• 15:55
  Okay,
• 15:55
  so
• 15:56
  first
• 15:56
  of
• 15:56
  all,
• 15:57
  into
• 15:57
  Coatingless.
• 15:58
  Any
• 15:59
  brand
• 15:59
  willing
• 15:59
  to
• 15:59
  be
• 16:00
  on
• 16:00
  Coatingless,
• 16:01
  they
• 16:01
  need
• 16:01
  to
• 16:01
  have
• 16:02
  the
• 16:02
  approval
• 16:02
  of
• 16:02
  the
• 16:03
  buying
• 16:03
  team.
• 16:03
  Okay,
• 16:04
  so
• 16:04
  that's
• 16:04
  the
• 16:04
  first
• 16:05
  approach,
• 16:05
  is
• 16:05
  that
• 16:05
  the
• 16:06
  marketplace
• 16:06
  team,
• 16:07
  which
• 16:07
  is
• 16:07
  in
• 16:07
  a
• 16:07
  way
• 16:07
  not
• 16:08
  really
• 16:08
  a
• 16:08
  marketplace
• 16:09
  because
• 16:09
  it
• 16:09
  is
• 16:09
  called
• 16:10
  the
• 16:11
  digital
• 16:11
  corner.
• 16:12
  So
• 16:12
  it's
• 16:12
  a
• 16:12
  kind
• 16:13
  of
• 16:13
  hybrid
• 16:14
  marketplace
• 16:16
  run
• 16:16
  under
• 16:18
  a
• 16:18
  miracle,
• 16:18
  which
• 16:19
  is
• 16:19
  a
• 16:19
  specific
• 16:20
  miracle
• 16:20
  account,
• 16:21
  very
• 16:21
  complex
• 16:22
  to
• 16:22
  handle.
• 16:26
  The
• 16:26
  cuttingless
• 16:27
  approach
• 16:27
  for
• 16:27
  a
• 16:28
  brand,
• 16:28
  first
• 16:28
  of
• 16:28
  all
• 16:29
  needs
• 16:30
  to
• 16:30
  be
• 16:31
  included
• 16:32
  into
• 16:33
  a
• 16:33
  global
• 16:33
  strategy
• 16:34
  into
• 16:34
  Spain.
• 16:35
  It
• 16:36
  will
• 16:36
  be
• 16:36
  very
• 16:36
  rare.
• 16:37
  Unless
• 16:37
  you
• 16:37
  have
• 16:38
  a
• 16:38
  big
• 16:38
  brand
• 16:38
  and
• 16:38
  a
• 16:38
  big
• 16:39
  name
• 16:39
  and
• 16:39
  a
• 16:39
  big
• 16:39
  brand
• 16:40
  awareness.
• 16:40
  It
• 16:41
  will
• 16:41
  be
• 16:41
  very
• 16:41
  rare
• 16:43
  that
• 16:43
  Coatingless
• 16:44
  will
• 16:45
  take
• 16:45
  some
• 16:45
  brands
• 16:46
  coming
• 16:46
  from
• 16:46
  abroad
• 16:48
  without
• 16:49
  a
• 16:49
  proper
• 16:49
  distribution
• 16:50
  strategy
• 16:51
  into
• 16:51
  Spain
• 16:52
  it
• 16:52
  means
• 16:53
  wholesale,
• 16:55
  it
• 16:55
  means
• 16:57
  your
• 16:57
  income
• 16:58
  that
• 16:59
  you
• 16:59
  are
• 16:59
  yourself
• 17:00
  selling
• 17:00
  into
• 17:01
  into
• 17:01
  Spain.
• 17:02
  Why
• 17:03
  not
• 17:03
  when
• 17:03
  you
• 17:03
  have
• 17:05
  some
• 17:05
  traction
• 17:06
  and
• 17:06
  some
• 17:07
  identity
• 17:09
  play
• 17:10
  retail
• 17:10
  as
• 17:10
  well.
• 17:12
  And
• 17:13
  definitely
• 17:15
  it's
• 17:15
  starting
• 17:15
  to
• 17:15
  change
• 17:16
  a
• 17:16
  bit
• 17:17
  recently,
• 17:18
  but
• 17:18
  if
• 17:18
  you
• 17:18
  were
• 17:19
  not
• 17:19
  in
• 17:19
  the
• 17:19
  stores
• 17:19
  of
• 17:20
  Cortingless,
• 17:20
  you
• 17:20
  were
• 17:21
  not
• 17:21
  going
• 17:21
  to
• 17:21
  be
• 17:21
  able
• 17:22
  to
• 17:22
  be
• 17:22
  into
• 17:22
  their
• 17:23
  corner
• 17:24
  digital,
• 17:25
  which
• 17:25
  is
• 17:25
  the
• 17:26
  marketplace.
• 17:27
  This
• 17:27
  is
• 17:27
  now
• 17:27
  starting
• 17:28
  to
• 17:28
  change
• 17:29
  because
• 17:30
  we
• 17:30
  all
• 17:31
  know
• 17:31
  that
• 17:32
  getting
• 17:33
  out
• 17:33
  of
• 17:33
  COVID
• 17:34
  things
• 17:35
  have
• 17:35
  been
• 17:35
  a
• 17:35
  bit
• 17:36
  more
• 17:36
  difficult
• 17:36
  for
• 17:36
  Ecom
• 17:37
  players
• 17:38
  and
• 17:38
  Kot
• 17:38
  Ingles
• 17:39
  is
• 17:39
  now
• 17:39
  a
• 17:39
  bit
• 17:39
  more
• 17:40
  open
• 17:41
  in
• 17:41
  terms
• 17:41
  of
• 17:42
  their
• 17:42
  strategy
• 17:43
  to
• 17:43
  welcome
• 17:43
  brands.
• 17:44
  But
• 17:46
  the
• 17:46
  approach
• 17:47
  of
• 17:47
  such
• 17:48
  players,
• 17:48
  and
• 17:48
  in
• 17:49
  a
• 17:49
  way
• 17:49
  the
• 17:49
  approach
• 17:49
  that
• 17:50
  we
• 17:50
  consider
• 17:51
  and
• 17:52
  we
• 17:52
  share
• 17:52
  at
• 17:53
  the
• 17:53
  agent
• 17:53
  is
• 17:54
  when
• 17:54
  you
• 17:54
  want
• 17:55
  to
• 17:55
  go
• 17:55
  to
• 17:55
  a
• 17:55
  market,
• 17:57
  the
• 17:57
  marketplace
• 17:58
  by
• 17:59
  his
• 17:59
  own
• 18:00
  won't
• 18:00
  be
• 18:00
  enough
• 18:01
  for
• 18:01
  you
• 18:02
  to
• 18:02
  be
• 18:02
  successful
• 18:02
  in
• 18:02
  this
• 18:03
  country.
• 18:05
  Yeah,
• 18:07
  well,
• 18:07
  if
• 18:07
  encoding
• 18:08
  glaze
• 18:08
  is
• 18:08
  still
• 18:09
  so
• 18:09
  difficult
• 18:09
  to
• 18:09
  get
• 18:09
  into,
• 18:10
  even
• 18:10
  if
• 18:10
  that
• 18:10
  is
• 18:10
  changing,
• 18:11
  we
• 18:11
  will
• 18:11
  have
• 18:12
  to
• 18:12
  look
• 18:12
  for
• 18:12
  other
• 18:12
  options
• 18:13
  here,
• 18:14
  which
• 18:14
  we
• 18:14
  will
• 18:14
  do
• 18:15
  after
• 18:15
  another
• 18:15
  short
• 18:16
  break.
• 18:21
  We
• 18:21
  are
• 18:21
  quick
• 18:22
  to
• 18:22
  call
• 18:22
  out
• 18:22
  marketplaces
• 18:23
  for
• 18:23
  bad
• 18:23
  merchant
• 18:24
  services
• 18:24
  or
• 18:25
  shoddy
• 18:25
  integrations
• 18:26
  on
• 18:26
  this
• 18:26
  channel,
• 18:27
  but
• 18:27
  let's
• 18:27
  face
• 18:27
  it,
• 18:28
  building
• 18:28
  a
• 18:28
  marketplace
• 18:29
  is
• 18:29
  not
• 18:29
  an
• 18:29
  easy
• 18:30
  task.
• 18:30
  Software
• 18:31
  setup,
• 18:32
  integrations
• 18:32
  and
• 18:32
  all
• 18:33
  the
• 18:33
  technical
• 18:33
  details
• 18:34
  make
• 18:34
  it
• 18:34
  challenging
• 18:35
  enough.
• 18:35
  And
• 18:36
  then
• 18:36
  there's
• 18:36
  the
• 18:36
  questions.
• 18:37
  How
• 18:37
  do
• 18:37
  I
• 18:37
  get
• 18:38
  strong,
• 18:38
  high
• 18:38
  quality
• 18:39
  sellers
• 18:39
  for
• 18:39
  my
• 18:40
  platform?
• 18:41
  That's
• 18:41
  why
• 18:41
  our
• 18:42
  new
• 18:42
  partner
• 18:42
  Octopia
• 18:43
  can
• 18:43
  help.
• 18:43
  It's
• 18:44
  the
• 18:44
  first
• 18:44
  fully
• 18:44
  integrated
• 18:45
  suite
• 18:45
  of
• 18:46
  marketplace
• 18:46
  services
• 18:47
  developed
• 18:47
  by
• 18:48
  an
• 18:48
  actual
• 18:48
  marketplace
• 18:49
  operator.
• 18:50
  Behind
• 18:50
  it
• 18:51
  is
• 18:51
  the
• 18:51
  French
• 18:51
  generalist
• 18:52
  CDiscount.
• 18:53
  With
• 18:53
  20
• 18:53
  plus
• 18:54
  years
• 18:54
  of
• 18:54
  experience,
• 18:55
  over
• 18:55
  2
• 18:55
  billion
• 18:56
  GMV,
• 18:56
  450
• 18:57
  specialists
• 18:58
  and
• 18:58
  10,000
• 18:58
  vetted
• 18:59
  sellers,
• 18:59
  Octopia's
• 19:00
  mission
• 19:01
  is
• 19:01
  clear.
• 19:01
  They
• 19:02
  acquire
• 19:02
  the
• 19:02
  sellers
• 19:03
  for
• 19:03
  you,
• 19:03
  onboard
• 19:04
  them
• 19:04
  fast
• 19:05
  and
• 19:05
  drive
• 19:05
  the
• 19:05
  performance
• 19:06
  so
• 19:06
  your
• 19:07
  marketplace
• 19:07
  can
• 19:07
  scale
• 19:08
  without
• 19:08
  complexity.
• 19:09
  Octopia
• 19:10
  stands
• 19:10
  out
• 19:11
  with
• 19:11
  its
• 19:11
  operational
• 19:11
  strength,
• 19:12
  targeted
• 19:13
  sellers
• 19:14
  sourcing
• 19:14
  onboarding
• 19:15
  in
• 19:15
  just
• 19:16
  three
• 19:16
  to
• 19:16
  five
• 19:16
  days,
• 19:17
  pan
• 19:17
  European
• 19:18
  fulfillment
• 19:18
  sponsored
• 19:19
  product
• 19:19
  solutions
• 19:20
  and
• 19:20
  access
• 19:20
  to
• 19:21
  100
• 19:21
  plus
• 19:22
  marketplaces.
• 19:23
  That's
• 19:23
  why
• 19:23
  Octopia
• 19:24
  delivers
• 19:24
  fast
• 19:25
  scalable
• 19:25
  growth
• 19:26
  that's
• 19:26
  proven
• 19:27
  across
• 19:27
  markets.
• 19:29
  Whether
• 19:29
  you
• 19:29
  want
• 19:29
  to
• 19:29
  diversify
• 19:30
  categories
• 19:31
  or
• 19:31
  accelerate
• 19:32
  your
• 19:32
  internationalization
• 19:33
  or
• 19:33
  reduce
• 19:34
  dependency
• 19:34
  on
• 19:35
  a
• 19:35
  handful
• 19:35
  of
• 19:35
  of
• 19:35
  sellers,
• 19:36
  Octopia
• 19:37
  delivers
• 19:37
  scalable
• 19:38
  growth
• 19:38
  without
• 19:39
  operational
• 19:39
  headaches.
• 19:40
  If
• 19:40
  you
• 19:40
  want
• 19:40
  to
• 19:41
  know
• 19:41
  why
• 19:41
  platforms
• 19:42
  like
• 19:42
  Rakuten,
• 19:43
  Allegro,
• 19:44
  Cdon
• 19:45
  or
• 19:45
  Fnect
• 19:46
  trust
• 19:47
  Octopia,
• 19:47
  listen
• 19:48
  to
• 19:48
  our
• 19:48
  podcast
• 19:49
  in
• 19:49
  two
• 19:49
  weeks
• 19:49
  in
• 19:50
  that
• 19:50
  episode
• 19:50
  and
• 19:51
  buy
• 19:52
  one
• 19:52
  of
• 19:52
  the
• 19:52
  customers
• 19:53
  of
• 19:54
  Octopia
• 19:54
  will
• 19:54
  reveal
• 19:55
  how
• 19:56
  their
• 19:56
  platform
• 19:57
  leverages
• 19:59
  Octopia
• 19:59
  to
• 20:00
  support
• 20:00
  its
• 20:00
  large
• 20:01
  scale
• 20:01
  European
• 20:02
  expansion.
• 20:03
  Or
• 20:03
  you
• 20:03
  can
• 20:04
  also
• 20:04
  take
• 20:04
  A
• 20:04
  look
• 20:04
  at
• 20:04
  our
• 20:05
  company
• 20:05
  portrait
• 20:05
  on
• 20:05
  our
• 20:06
  website.
• 20:06
  You'll
• 20:06
  find
• 20:07
  the
• 20:07
  link
• 20:07
  in
• 20:07
  the
• 20:07
  show
• 20:07
  notes.
• 20:14
  Okay
• 20:15
  then,
• 20:15
  Romain,
• 20:16
  let's
• 20:16
  talk
• 20:16
  about
• 20:17
  what
• 20:17
  we
• 20:17
  can
• 20:18
  do
• 20:18
  as
• 20:18
  a
• 20:18
  German
• 20:19
  or
• 20:19
  UK
• 20:19
  brand
• 20:20
  that
• 20:20
  wants
• 20:21
  to
• 20:21
  go
• 20:21
  to
• 20:21
  Spain
• 20:22
  and
• 20:22
  maybe
• 20:22
  doesn't
• 20:23
  have
• 20:23
  that
• 20:24
  kind
• 20:24
  of
• 20:25
  Spanish
• 20:25
  distribution
• 20:26
  strategy
• 20:27
  that
• 20:27
  you've
• 20:28
  been
• 20:28
  talking
• 20:28
  about
• 20:28
  that
• 20:29
  Corta
• 20:29
  Ingles
• 20:29
  wants
• 20:30
  or
• 20:30
  they
• 20:30
  just
• 20:30
  want
• 20:30
  to
• 20:31
  try
• 20:31
  out
• 20:31
  the
• 20:31
  market
• 20:32
  which
• 20:32
  marketplaces
• 20:33
  can,
• 20:33
  should
• 20:33
  they
• 20:34
  go
• 20:34
  for?
• 20:35
  So
• 20:35
  it
• 20:35
  really
• 20:36
  depends
• 20:36
  of
• 20:36
  course
• 20:36
  on
• 20:36
  the,
• 20:37
  on
• 20:37
  the
• 20:37
  positioning
• 20:38
  of
• 20:39
  the
• 20:39
  brand.
• 20:40
  My
• 20:41
  expertise
• 20:41
  has
• 20:41
  been
• 20:42
  always
• 20:42
  into,
• 20:43
  let's
• 20:43
  say
• 20:43
  lifestyle
• 20:44
  and
• 20:45
  more
• 20:46
  premium,
• 20:47
  mainstream,
• 20:47
  premium
• 20:48
  brands.
• 20:48
  Myself,
• 20:50
  I've
• 20:50
  been
• 20:50
  working
• 20:50
  into
• 20:52
  different
• 20:52
  brands
• 20:53
  into
• 20:53
  the
• 20:53
  Spanish
• 20:53
  market
• 20:54
  and
• 20:54
  now
• 20:55
  after
• 20:55
  vp,
• 20:56
  running
• 20:56
  the,
• 20:59
  say
• 20:59
  the
• 21:01
  strategy
• 21:02
  of
• 21:02
  the
• 21:02
  brands,
• 21:03
  working
• 21:03
  with
• 21:03
  the
• 21:03
  agent.
• 21:03
  So
• 21:04
  I
• 21:04
  would
• 21:05
  share
• 21:05
  a
• 21:05
  bit
• 21:05
  my
• 21:06
  expertise
• 21:06
  which
• 21:06
  is
• 21:07
  more
• 21:07
  into
• 21:08
  lifestyle
• 21:09
  and
• 21:09
  mainstream.
• 21:10
  First
• 21:10
  of
• 21:11
  all,
• 21:11
  I
• 21:11
  think
• 21:11
  that
• 21:15
  you
• 21:15
  need
• 21:15
  to
• 21:16
  bring
• 21:16
  emotion,
• 21:16
  you
• 21:17
  need
• 21:17
  to
• 21:17
  bring
• 21:19
  high
• 21:19
  quality
• 21:20
  content.
• 21:21
  So
• 21:21
  this
• 21:21
  is
• 21:21
  very
• 21:22
  important
• 21:23
  because
• 21:23
  at
• 21:23
  the
• 21:23
  end
• 21:23
  of
• 21:23
  the
• 21:23
  day,
• 21:24
  the
• 21:24
  consumer
• 21:24
  in
• 21:24
  Spain
• 21:25
  is,
• 21:25
  is
• 21:25
  looking
• 21:26
  for
• 21:26
  a
• 21:26
  trend.
• 21:27
  As
• 21:28
  I
• 21:28
  was
• 21:28
  saying
• 21:29
  before,
• 21:32
  compared
• 21:33
  to
• 21:33
  Germany,
• 21:35
  the
• 21:36
  consumer
• 21:36
  into
• 21:37
  Spain
• 21:39
  is
• 21:39
  less
• 21:39
  rational.
• 21:40
  Okay?
• 21:41
  So
• 21:41
  at
• 21:42
  the
• 21:42
  end
• 21:42
  of
• 21:42
  the
• 21:42
  day.
• 21:47
  They
• 21:47
  want
• 21:47
  to
• 21:47
  discover,
• 21:49
  they
• 21:49
  want
• 21:49
  to
• 21:50
  be
• 21:50
  engaged.
• 21:53
  So
• 21:53
  at
• 21:53
  the
• 21:53
  end
• 21:53
  of
• 21:53
  the
• 21:54
  day
• 21:55
  it's
• 21:55
  important
• 21:56
  that
• 21:56
  you
• 21:56
  bring,
• 21:57
  as
• 21:57
  I
• 21:57
  was
• 21:57
  saying,
• 21:58
  this
• 21:58
  trend
• 21:59
  relevance.
• 22:01
  You
• 22:01
  are
• 22:01
  very,
• 22:02
  very
• 22:02
  dynamic.
• 22:04
  They
• 22:04
  buy
• 22:05
  fast.
• 22:05
  The
• 22:05
  consumer
• 22:06
  in
• 22:06
  Spain,
• 22:06
  if
• 22:07
  they
• 22:07
  like,
• 22:07
  they
• 22:07
  buy.
• 22:08
  Okay?
• 22:08
  So
• 22:09
  it's
• 22:09
  very
• 22:09
  important.
• 22:12
  It's
• 22:13
  maybe
• 22:13
  not
• 22:13
  that
• 22:14
  linked
• 22:14
  to
• 22:14
  the
• 22:14
  marketplace
• 22:15
  ecosystem,
• 22:16
  but
• 22:16
  they
• 22:16
  are
• 22:17
  very,
• 22:18
  very
• 22:19
  mobile.
• 22:20
  So
• 22:20
  they
• 22:20
  are
• 22:20
  very
• 22:21
  engaged
• 22:22
  towards
• 22:23
  them
• 22:23
  buying
• 22:24
  and
• 22:24
  discovering
• 22:25
  and
• 22:25
  buying
• 22:26
  via
• 22:26
  mobile.
• 22:26
  Okay?
• 22:27
  So
• 22:27
  I
• 22:27
  think
• 22:27
  that
• 22:28
  the
• 22:29
  UX
• 22:30
  experience
• 22:30
  is
• 22:31
  very
• 22:31
  important.
• 22:33
  They
• 22:33
  don't
• 22:33
  care
• 22:33
  that
• 22:34
  much
• 22:34
  about
• 22:34
  the
• 22:34
  checkout
• 22:36
  and
• 22:37
  they
• 22:37
  want
• 22:37
  a
• 22:38
  payment
• 22:38
  flow
• 22:38
  which
• 22:39
  is
• 22:39
  very,
• 22:39
  very,
• 22:40
  very,
• 22:41
  very
• 22:41
  lean.
• 22:42
  Okay?
• 22:43
  So
• 22:43
  these
• 22:43
  are
• 22:44
  the
• 22:44
  key
• 22:45
  areas
• 22:45
  of
• 22:45
  success
• 22:46
  for
• 22:47
  someone
• 22:47
  willing
• 22:47
  to
• 22:48
  sell
• 22:48
  into
• 22:48
  Spain.
• 22:50
  In
• 22:50
  terms
• 22:50
  of
• 22:50
  options.
• 22:51
  For
• 22:52
  a
• 22:52
  premium,
• 22:53
  mainstream,
• 22:54
  premium
• 22:54
  brand,
• 22:55
  you
• 22:56
  have
• 22:56
  of
• 22:56
  course
• 22:57
  Cortinglais,
• 22:58
  if
• 22:58
  you
• 22:58
  can
• 22:58
  be
• 22:58
  with
• 22:59
  them,
• 22:59
  but
• 22:59
  you
• 22:59
  have
• 23:00
  after
• 23:00
  international
• 23:01
  players.
• 23:01
  So
• 23:02
  you
• 23:02
  could
• 23:02
  be
• 23:02
  on
• 23:02
  Amazon,
• 23:03
  you
• 23:03
  could
• 23:03
  be
• 23:04
  on
• 23:04
  Zalando,
• 23:06
  you
• 23:07
  could
• 23:07
  be
• 23:07
  playing
• 23:08
  with
• 23:10
  fashion
• 23:10
  outlet
• 23:11
  marketplaces
• 23:12
  like
• 23:13
  Prevailia,
• 23:14
  like
• 23:14
  vp,
• 23:15
  which
• 23:15
  we
• 23:16
  all
• 23:16
  know
• 23:17
  are
• 23:18
  trying
• 23:18
  to
• 23:18
  move
• 23:19
  from
• 23:19
  their
• 23:19
  original
• 23:20
  segment,
• 23:20
  which
• 23:21
  is
• 23:21
  only,
• 23:21
  only,
• 23:21
  only
• 23:22
  discount,
• 23:23
  to
• 23:25
  starting
• 23:26
  an
• 23:26
  entry
• 23:27
  season
• 23:27
  where
• 23:28
  you
• 23:28
  play
• 23:28
  with
• 23:29
  your
• 23:29
  current
• 23:30
  catalog
• 23:30
  at
• 23:30
  food
• 23:31
  price
• 23:31
  and
• 23:32
  when
• 23:32
  there
• 23:32
  are
• 23:32
  some
• 23:33
  promotional
• 23:34
  periods,
• 23:34
  you
• 23:35
  bring
• 23:35
  some
• 23:35
  discount
• 23:36
  and
• 23:36
  this
• 23:37
  is
• 23:37
  where
• 23:37
  you,
• 23:37
  you
• 23:38
  boom
• 23:38
  your
• 23:38
  sales.
• 23:39
  But
• 23:39
  at
• 23:39
  least
• 23:40
  during
• 23:40
  all
• 23:40
  the
• 23:41
  season,
• 23:41
  you
• 23:42
  are
• 23:42
  catching
• 23:42
  the
• 23:42
  eye
• 23:43
  of
• 23:43
  potential
• 23:43
  new
• 23:43
  consumers
• 23:44
  for
• 23:44
  your
• 23:44
  brand.
• 23:46
  At
• 23:46
  the
• 23:46
  end
• 23:46
  of
• 23:46
  the
• 23:46
  day,
• 23:48
  for
• 23:48
  the,
• 23:49
  let's
• 23:49
  say
• 23:49
  again,
• 23:50
  lifestyle,
• 23:50
  mentoring
• 23:51
  and
• 23:51
  premium
• 23:51
  brands,
• 23:52
  you
• 23:52
  have
• 23:53
  Other
• 23:53
  options
• 23:53
  than
• 23:53
  coatingless
• 23:56
  that
• 23:56
  will
• 23:57
  bring
• 23:57
  you
• 23:58
  local
• 23:59
  visibility.
• 24:00
  I
• 24:00
  give
• 24:00
  you
• 24:01
  an
• 24:01
  example
• 24:03
  at
• 24:03
  the
• 24:03
  agent
• 24:04
  we
• 24:04
  run
• 24:05
  some
• 24:06
  brands
• 24:06
  on
• 24:09
  about
• 24:09
  you
• 24:10
  on
• 24:10
  Zalando
• 24:11
  on
• 24:11
  Amazon
• 24:12
  into
• 24:12
  Spain
• 24:14
  and
• 24:15
  we
• 24:15
  are
• 24:15
  capable
• 24:16
  to
• 24:16
  bring
• 24:16
  in
• 24:17
  those
• 24:18
  marketplaces.
• 24:18
  When
• 24:19
  I
• 24:19
  take
• 24:19
  Zalando
• 24:19
  for
• 24:20
  example,
• 24:20
  we
• 24:20
  are
• 24:20
  capable
• 24:21
  to
• 24:21
  bring
• 24:22
  around
• 24:23
  10
• 24:23
  to
• 24:23
  15%
• 24:24
  of
• 24:25
  their
• 24:25
  business
• 24:25
  into
• 24:26
  Spain
• 24:27
  onto
• 24:28
  one
• 24:28
  single
• 24:29
  marketplace.
• 24:29
  For
• 24:29
  example,
• 24:30
  a
• 24:30
  brand
• 24:30
  which
• 24:30
  is
• 24:30
  on
• 24:30
  Zalando,
• 24:31
  we
• 24:32
  are
• 24:32
  capable
• 24:32
  for
• 24:33
  some
• 24:33
  brands
• 24:33
  which
• 24:33
  are
• 24:33
  not
• 24:33
  Spanish
• 24:35
  to
• 24:35
  bring
• 24:35
  them
• 24:36
  up
• 24:36
  to
• 24:37
  12,
• 24:38
  15%
• 24:38
  of
• 24:38
  their
• 24:39
  business
• 24:40
  in
• 24:40
  Spain.
• 24:41
  Okay.
• 24:42
  And
• 24:42
  we
• 24:43
  do
• 24:43
  it
• 24:44
  through
• 24:44
  what
• 24:45
  I
• 24:45
  was
• 24:45
  mentioning
• 24:45
  which
• 24:46
  is
• 24:47
  bringing
• 24:47
  a
• 24:47
  new
• 24:48
  trend,
• 24:49
  bringing
• 24:50
  a
• 24:51
  store,
• 24:52
  bringing
• 24:52
  high
• 24:52
  level
• 24:53
  content,
• 24:54
  bringing
• 24:54
  the
• 24:55
  right
• 24:55
  promotion
• 24:55
  at
• 24:56
  the
• 24:56
  right
• 24:56
  moment,
• 24:56
  but
• 24:57
  not
• 24:57
  only.
• 24:59
  And
• 24:59
  it's
• 25:00
  working.
• 25:03
  Okay.
• 25:04
  So
• 25:04
  more
• 25:04
  of
• 25:05
  a
• 25:05
  broader
• 25:05
  approach
• 25:06
  in
• 25:06
  a
• 25:06
  way
• 25:06
  and
• 25:06
  not
• 25:06
  like
• 25:07
  looking
• 25:07
  for
• 25:08
  one
• 25:08
  or
• 25:09
  two
• 25:09
  or
• 25:09
  three
• 25:09
  particular
• 25:09
  marketplaces
• 25:10
  but
• 25:10
  more
• 25:11
  like
• 25:11
  which
• 25:11
  product,
• 25:12
  which
• 25:12
  of
• 25:12
  my
• 25:12
  products
• 25:13
  would
• 25:13
  fit
• 25:14
  at
• 25:14
  what
• 25:14
  time,
• 25:14
  on
• 25:15
  what
• 25:15
  platform?
• 25:16
  Yes,
• 25:17
  we
• 25:17
  are
• 25:18
  working
• 25:18
  with
• 25:19
  nothing
• 25:19
  to
• 25:19
  do
• 25:20
  too
• 25:20
  much
• 25:20
  with
• 25:20
  fashion,
• 25:21
  but
• 25:21
  we,
• 25:21
  we've
• 25:22
  opened
• 25:22
  successfully
• 25:22
  Decathlon
• 25:23
  also
• 25:23
  in
• 25:24
  Spain.
• 25:25
  Decathlon
• 25:26
  has
• 25:26
  a.
• 25:26
  Has
• 25:26
  quite
• 25:26
  a
• 25:27
  good
• 25:27
  footprint
• 25:27
  into
• 25:27
  Spain
• 25:28
  because
• 25:28
  it's
• 25:29
  in
• 25:29
  Europe.
• 25:31
  If
• 25:31
  I'm
• 25:31
  not
• 25:31
  wrong,
• 25:32
  it's
• 25:33
  it's
• 25:33
  the
• 25:34
  second
• 25:34
  or
• 25:34
  third
• 25:34
  market
• 25:35
  before
• 25:36
  they
• 25:36
  acquired
• 25:36
  the
• 25:37
  German
• 25:37
  player.
• 25:39
  Spain
• 25:39
  has
• 25:39
  been
• 25:39
  always
• 25:40
  a
• 25:40
  very
• 25:40
  good
• 25:41
  market
• 25:41
  for
• 25:41
  decathlon.
• 25:42
  So
• 25:42
  they
• 25:42
  have
• 25:42
  a
• 25:42
  footprint
• 25:44
  into
• 25:44
  offline
• 25:45
  and
• 25:45
  their
• 25:46
  E
• 25:46
  Comm
• 25:47
  and
• 25:47
  marketplace
• 25:48
  is
• 25:48
  quite
• 25:49
  successful
• 25:49
  and
• 25:49
  quite
• 25:50
  successful
• 25:50
  for
• 25:51
  non
• 25:51
  Spanish
• 25:52
  brands.
• 25:53
  Interesting.
• 25:55
  Let's
• 25:55
  talk
• 25:55
  for
• 25:56
  a
• 25:56
  second
• 25:56
  about
• 25:56
  Solano
• 25:57
  because
• 25:57
  you
• 25:57
  said
• 25:58
  in
• 25:58
  the
• 25:58
  beginning
• 25:58
  they
• 25:58
  don't
• 25:59
  have
• 25:59
  that
• 25:59
  of
• 25:59
  an
• 25:59
  easy
• 26:00
  relationship
• 26:00
  with
• 26:01
  this
• 26:01
  market
• 26:02
  going
• 26:02
  in,
• 26:03
  going
• 26:03
  out
• 26:03
  again,
• 26:04
  now,
• 26:04
  coming
• 26:04
  back
• 26:04
  in.
• 26:05
  So
• 26:06
  how
• 26:06
  does
• 26:07
  Zalando
• 26:08
  at
• 26:08
  the
• 26:08
  moment
• 26:09
  go
• 26:10
  for
• 26:10
  the
• 26:10
  Spanish
• 26:11
  market?
• 26:11
  What
• 26:11
  are
• 26:11
  they
• 26:11
  doing
• 26:12
  here?
• 26:12
  What
• 26:12
  kind
• 26:12
  of
• 26:12
  brands
• 26:13
  are
• 26:13
  they
• 26:13
  accepting
• 26:13
  here
• 26:14
  and
• 26:14
  is
• 26:14
  that
• 26:14
  maybe
• 26:14
  different
• 26:15
  from
• 26:15
  what
• 26:16
  they
• 26:16
  are
• 26:16
  going
• 26:16
  for
• 26:16
  in
• 26:17
  France
• 26:17
  or
• 26:17
  in
• 26:17
  Germany?
• 26:19
  No,
• 26:19
  I
• 26:19
  think
• 26:21
  I
• 26:21
  know
• 26:21
  quite
• 26:22
  well
• 26:22
  Eloisa
• 26:23
  who
• 26:24
  is
• 26:24
  operating
• 26:26
  and
• 26:26
  managing
• 26:26
  the
• 26:26
  country
• 26:28
  with
• 26:28
  the
• 26:28
  team.
• 26:30
  I
• 26:30
  think
• 26:31
  they
• 26:31
  have
• 26:31
  a
• 26:31
  very
• 26:31
  similar
• 26:32
  approach
• 26:33
  towards
• 26:33
  the
• 26:33
  French
• 26:34
  market
• 26:34
  or
• 26:34
  the
• 26:34
  Italian
• 26:34
  market
• 26:35
  market.
• 26:35
  They're
• 26:35
  being
• 26:36
  very
• 26:36
  selective
• 26:37
  in
• 26:37
  the
• 26:37
  brands
• 26:38
  they
• 26:38
  are
• 26:38
  willing
• 26:38
  to
• 26:38
  catch.
• 26:39
  It's
• 26:40
  maybe
• 26:40
  a
• 26:40
  market
• 26:40
  compared
• 26:41
  to
• 26:41
  France
• 26:41
  and
• 26:41
  Italy
• 26:42
  where
• 26:43
  they
• 26:43
  are
• 26:44
  maybe
• 26:44
  a
• 26:45
  bit
• 26:45
  more
• 26:45
  behind
• 26:45
  in
• 26:46
  terms
• 26:46
  of
• 26:46
  the
• 26:47
  brands
• 26:47
  they
• 26:48
  are
• 26:48
  willing
• 26:48
  to
• 26:48
  have
• 26:49
  on
• 26:49
  board.
• 26:50
  They
• 26:50
  were
• 26:50
  very
• 26:51
  strong
• 26:51
  since
• 26:51
  a
• 26:51
  very
• 26:52
  long
• 26:52
  time
• 26:52
  into
• 26:52
  the
• 26:52
  shoe
• 26:53
  category
• 26:53
  because
• 26:53
  of
• 26:54
  course
• 26:54
  there
• 26:55
  is
• 26:55
  a
• 26:55
  long
• 26:56
  and
• 26:56
  historical
• 26:57
  tradition
• 26:57
  into
• 26:58
  shoes
• 26:59
  in
• 26:59
  Spain.
• 27:01
  But
• 27:01
  they
• 27:01
  are
• 27:01
  now
• 27:04
  you
• 27:04
  have
• 27:04
  very
• 27:04
  beautiful
• 27:06
  brands
• 27:07
  arriving
• 27:09
  into
• 27:09
  Zalando
• 27:10
  in
• 27:10
  Spain
• 27:10
  such
• 27:10
  as
• 27:12
  Scalpers,
• 27:13
  Brownie
• 27:16
  and
• 27:16
  those
• 27:17
  brands
• 27:17
  are
• 27:18
  matching
• 27:18
  completely
• 27:19
  Zalando
• 27:20
  current
• 27:20
  DNA.
• 27:21
  So
• 27:22
  I
• 27:22
  think
• 27:22
  that
• 27:23
  when
• 27:23
  I
• 27:23
  compare
• 27:24
  Spanish
• 27:24
  brands
• 27:25
  to
• 27:25
  French
• 27:25
  brands,
• 27:26
  for
• 27:26
  me
• 27:26
  Spanish
• 27:27
  brands
• 27:27
  were
• 27:27
  able
• 27:27
  to
• 27:28
  go
• 27:28
  abroad
• 27:29
  and
• 27:29
  far
• 27:29
  abroad
• 27:31
  much
• 27:32
  stronger
• 27:33
  than
• 27:33
  France.
• 27:33
  Okay,
• 27:34
  The
• 27:34
  French
• 27:34
  brands
• 27:35
  for
• 27:35
  me
• 27:35
  when
• 27:35
  they
• 27:35
  are
• 27:35
  abroad,
• 27:36
  they
• 27:36
  are
• 27:36
  in
• 27:36
  Belgium,
• 27:37
  they
• 27:37
  are
• 27:37
  in
• 27:37
  Switzerland,
• 27:39
  but
• 27:39
  not
• 27:40
  much
• 27:40
  further
• 27:40
  than
• 27:41
  this.
• 27:41
  And
• 27:42
  the
• 27:42
  Spanish
• 27:42
  brands
• 27:43
  are
• 27:43
  having
• 27:43
  the
• 27:44
  capacity
• 27:44
  to
• 27:45
  go
• 27:45
  abroad
• 27:45
  much
• 27:46
  stronger.
• 27:46
  You
• 27:46
  have
• 27:46
  a
• 27:47
  lot
• 27:47
  of
• 27:47
  DNVBs
• 27:49
  Digital
• 27:49
  native
• 27:49
  brands
• 27:50
  that
• 27:51
  are
• 27:51
  very
• 27:51
  strong
• 27:51
  in
• 27:51
  Germany,
• 27:54
  such
• 27:54
  as
• 27:55
  we
• 27:55
  run
• 27:55
  some
• 27:55
  of
• 27:55
  them.
• 27:55
  For
• 27:56
  example,
• 27:56
  Tropicfeel,
• 27:57
  which
• 27:57
  is
• 27:58
  an
• 27:59
  outdoor
• 27:59
  shoe
• 28:00
  is
• 28:00
  selling
• 28:01
  very,
• 28:01
  very
• 28:01
  strong
• 28:02
  in
• 28:02
  Germany
• 28:03
  in
• 28:03
  dtc.
• 28:05
  And
• 28:05
  those
• 28:05
  brands
• 28:06
  are
• 28:07
  coming
• 28:07
  step
• 28:07
  by
• 28:07
  step
• 28:08
  now
• 28:08
  into
• 28:09
  Zalando
• 28:09
  because
• 28:09
  I
• 28:10
  think
• 28:10
  that
• 28:10
  at
• 28:10
  the
• 28:10
  end
• 28:10
  of
• 28:11
  the
• 28:11
  day
• 28:13
  Zalando,
• 28:13
  with
• 28:14
  the
• 28:14
  country
• 28:14
  rich
• 28:15
  they
• 28:15
  have
• 28:16
  are
• 28:16
  bringing
• 28:16
  to
• 28:17
  the
• 28:17
  Spanish
• 28:18
  fashion
• 28:18
  brands
• 28:19
  an
• 28:19
  attitude
• 28:19
  which
• 28:19
  is
• 28:20
  at
• 28:20
  the
• 28:20
  end
• 28:20
  of
• 28:20
  the
• 28:20
  day
• 28:20
  matching
• 28:21
  what
• 28:21
  they
• 28:21
  were
• 28:21
  doing,
• 28:22
  doing
• 28:22
  themselves
• 28:23
  into
• 28:23
  wholesale.
• 28:24
  Spanish
• 28:25
  brands
• 28:25
  are
• 28:25
  very
• 28:25
  well
• 28:26
  established
• 28:27
  in
• 28:27
  countries
• 28:28
  like
• 28:29
  uk,
• 28:30
  like
• 28:30
  Germany,
• 28:31
  of
• 28:31
  course,
• 28:32
  like
• 28:32
  Latam,
• 28:34
  some
• 28:34
  of
• 28:34
  them
• 28:34
  are
• 28:35
  very
• 28:35
  strong
• 28:35
  in
• 28:35
  Korea.
• 28:36
  So
• 28:37
  there
• 28:37
  is
• 28:37
  a
• 28:38
  knowledge
• 28:38
  of
• 28:38
  going
• 28:39
  international
• 28:40
  since
• 28:40
  a
• 28:40
  very
• 28:40
  long
• 28:41
  time
• 28:41
  into
• 28:41
  fashion
• 28:41
  brands.
• 28:42
  And
• 28:42
  I
• 28:42
  think
• 28:42
  that
• 28:43
  by
• 28:43
  the
• 28:44
  diversity
• 28:44
  of
• 28:44
  countries
• 28:45
  that
• 28:45
  Zalando
• 28:46
  has
• 28:46
  been
• 28:47
  developing
• 28:47
  into
• 28:47
  their
• 28:48
  partner
• 28:48
  program
• 28:49
  over
• 28:49
  the
• 28:49
  last
• 28:49
  years,
• 28:51
  it's
• 28:51
  matching
• 28:52
  quite
• 28:52
  well
• 28:52
  the
• 28:53
  DNA
• 28:53
  of
• 28:54
  the
• 28:54
  Spanish
• 28:55
  brands.
• 28:56
  And
• 28:57
  when
• 28:57
  I
• 28:57
  look
• 28:57
  at,
• 28:58
  for
• 28:58
  example,
• 28:58
  I
• 28:59
  don't
• 28:59
  know,
• 28:59
  I
• 28:59
  can
• 28:59
  give
• 28:59
  you
• 28:59
  examples
• 29:00
  of
• 29:00
  some
• 29:00
  brands
• 29:00
  we
• 29:01
  run
• 29:01
  into
• 29:01
  Spain
• 29:02
  that
• 29:03
  are
• 29:03
  going
• 29:04
  multi
• 29:04
  country
• 29:06
  with
• 29:06
  Zalando.
• 29:08
  They
• 29:09
  don't
• 29:09
  do
• 29:09
  more
• 29:09
  than
• 29:11
  max,
• 29:12
  max,
• 29:12
  max
• 29:13
  30%
• 29:13
  of
• 29:14
  their
• 29:14
  business
• 29:14
  on
• 29:14
  Zalando
• 29:15
  Spain,
• 29:16
  very
• 29:16
  max.
• 29:17
  Then,
• 29:17
  then
• 29:17
  the
• 29:18
  rest,
• 29:18
  the
• 29:18
  rest
• 29:19
  is
• 29:19
  of
• 29:19
  course
• 29:20
  they
• 29:20
  are
• 29:20
  strong
• 29:20
  in
• 29:21
  France,
• 29:21
  they're
• 29:21
  strong
• 29:21
  in
• 29:22
  Italy,
• 29:22
  strong
• 29:22
  in
• 29:23
  Germany.
• 29:24
  Some
• 29:24
  of
• 29:24
  them
• 29:24
  are
• 29:24
  doing
• 29:25
  very
• 29:25
  well
• 29:25
  in
• 29:25
  Switzerland,
• 29:26
  very
• 29:27
  well
• 29:27
  in
• 29:27
  Poland.
• 29:27
  I
• 29:28
  was
• 29:28
  very
• 29:28
  surprised
• 29:28
  about
• 29:29
  the
• 29:29
  business
• 29:29
  that
• 29:30
  some
• 29:30
  shoe
• 29:31
  brands
• 29:31
  from
• 29:31
  Spain
• 29:32
  do
• 29:32
  in
• 29:32
  Poland.
• 29:33
  Very,
• 29:33
  very
• 29:34
  surprised.
• 29:37
  So
• 29:37
  yeah,
• 29:37
  that's,
• 29:39
  that's
• 29:39
  how
• 29:39
  I
• 29:39
  see
• 29:39
  a
• 29:40
  bit
• 29:41
  the
• 29:42
  topic
• 29:42
  on
• 29:42
  Zalando
• 29:43
  and
• 29:43
  in
• 29:44
  my
• 29:44
  opinion,
• 29:46
  I
• 29:46
  feel,
• 29:46
  I'm
• 29:47
  feeling
• 29:47
  at
• 29:47
  least
• 29:48
  in
• 29:49
  the
• 29:49
  last
• 29:49
  two
• 29:49
  years
• 29:50
  Zalando
• 29:52
  betting
• 29:52
  quite
• 29:52
  strongly
• 29:54
  into
• 29:54
  Spain
• 29:56
  because
• 29:57
  they
• 29:57
  saw
• 29:58
  that
• 29:58
  with
• 29:59
  the
• 30:00
  level
• 30:00
  of
• 30:00
  brands
• 30:01
  having
• 30:01
  in
• 30:01
  Spain,
• 30:02
  if
• 30:02
  they
• 30:03
  can
• 30:03
  enter
• 30:03
  those
• 30:03
  brands
• 30:04
  into
• 30:04
  Zalando
• 30:05
  they
• 30:06
  will
• 30:06
  have
• 30:07
  what
• 30:07
  I
• 30:07
  said
• 30:07
  at
• 30:07
  the
• 30:07
  introduction
• 30:08
  of
• 30:08
  this,
• 30:08
  of
• 30:09
  this,
• 30:09
  of
• 30:09
  this
• 30:10
  discussion,
• 30:10
  they
• 30:11
  will
• 30:11
  have
• 30:11
  the
• 30:11
  capacity
• 30:12
  to
• 30:12
  be
• 30:13
  seen
• 30:13
  as
• 30:13
  a
• 30:14
  local
• 30:14
  player
• 30:15
  because
• 30:15
  they
• 30:15
  have
• 30:15
  the
• 30:16
  local
• 30:16
  offer.
• 30:17
  And
• 30:17
  Zalando
• 30:18
  is
• 30:18
  calling
• 30:19
  this
• 30:19
  the
• 30:19
  local
• 30:20
  hero
• 30:20
  brands.
• 30:23
  That's
• 30:23
  interesting.
• 30:24
  As
• 30:24
  we're
• 30:24
  talking
• 30:25
  about
• 30:26
  the
• 30:26
  local
• 30:26
  hero
• 30:27
  brands.
• 30:28
  I
• 30:28
  think
• 30:28
  there's
• 30:28
  another
• 30:28
  player
• 30:29
  that
• 30:29
  we
• 30:29
  can
• 30:29
  address
• 30:30
  here
• 30:30
  because
• 30:31
  they
• 30:31
  are
• 30:31
  targeting
• 30:33
  this
• 30:33
  area
• 30:33
  as
• 30:33
  well
• 30:33
  and
• 30:34
  that
• 30:34
  is
• 30:34
  TikTok
• 30:34
  Shop
• 30:35
  as
• 30:36
  many
• 30:38
  Chinese
• 30:38
  players
• 30:38
  They
• 30:39
  particularly
• 30:39
  chose
• 30:40
  the
• 30:40
  China,
• 30:40
  the
• 30:41
  Spanish
• 30:41
  market
• 30:42
  to
• 30:42
  start
• 30:42
  on
• 30:43
  continental
• 30:43
  Europe,
• 30:44
  apart
• 30:44
  from
• 30:44
  UK
• 30:45
  of
• 30:45
  course,
• 30:45
  which
• 30:46
  I
• 30:46
  find
• 30:46
  interesting
• 30:47
  because
• 30:47
  that
• 30:47
  was
• 30:47
  TikTok
• 30:48
  shop,
• 30:48
  that
• 30:48
  was
• 30:48
  also
• 30:49
  Meravia
• 30:50
  and
• 30:50
  others
• 30:51
  as
• 30:51
  well.
• 30:51
  So
• 30:52
  how
• 30:52
  is
• 30:52
  TikTok
• 30:53
  shop
• 30:53
  doing
• 30:53
  in
• 30:54
  Spain
• 30:54
  at
• 30:55
  the
• 30:55
  moment
• 30:55
  and
• 30:56
  what
• 30:56
  do
• 30:56
  you
• 30:56
  expect
• 30:57
  from
• 30:57
  them
• 30:57
  in
• 30:57
  the
• 30:58
  future?
• 30:59
  So
• 31:00
  I'll
• 31:00
  be
• 31:00
  a
• 31:00
  bit
• 31:00
  transparent
• 31:01
  there.
• 31:02
  I'm
• 31:03
  not
• 31:03
  a
• 31:03
  very,
• 31:03
  very,
• 31:04
  how
• 31:05
  can
• 31:05
  I
• 31:05
  say,
• 31:06
  I
• 31:06
  don't
• 31:06
  know
• 31:07
  the
• 31:07
  TikTok
• 31:07
  shop
• 31:07
  that
• 31:08
  much,
• 31:08
  but
• 31:09
  we've
• 31:10
  been
• 31:10
  deep
• 31:10
  diving
• 31:11
  a
• 31:11
  bit
• 31:12
  what
• 31:12
  they
• 31:12
  were
• 31:12
  doing
• 31:13
  here
• 31:13
  in
• 31:13
  France
• 31:14
  also
• 31:14
  into
• 31:15
  UK.
• 31:17
  For
• 31:17
  me,
• 31:18
  TikTok
• 31:18
  is
• 31:18
  matching
• 31:19
  the
• 31:19
  Spanish
• 31:20
  consumer
• 31:21
  DNA.
• 31:22
  Why?
• 31:22
  Because
• 31:23
  I
• 31:23
  said
• 31:23
  to
• 31:23
  you
• 31:23
  before
• 31:24
  that
• 31:24
  the
• 31:25
  Spanish
• 31:25
  consumer
• 31:25
  is
• 31:26
  mobile
• 31:26
  first.
• 31:27
  Okay.
• 31:28
  So
• 31:29
  the
• 31:30
  attitude
• 31:30
  and
• 31:31
  the
• 31:31
  feed
• 31:31
  of
• 31:32
  TikTok
• 31:33
  is
• 31:33
  matching
• 31:35
  this
• 31:36
  young
• 31:36
  consumer,
• 31:37
  this
• 31:37
  young
• 31:38
  Spanish
• 31:38
  consumer
• 31:40
  is
• 31:40
  matching
• 31:41
  also
• 31:41
  the
• 31:42
  fact,
• 31:42
  and
• 31:42
  this
• 31:42
  is
• 31:43
  in
• 31:43
  a
• 31:43
  way
• 31:43
  the
• 31:44
  Chinese
• 31:44
  approach,
• 31:45
  the
• 31:45
  fact
• 31:46
  that
• 31:46
  it's,
• 31:46
  let's
• 31:47
  say
• 31:47
  the
• 31:47
  right
• 31:47
  product
• 31:48
  at
• 31:48
  the
• 31:48
  right
• 31:48
  price
• 31:49
  because
• 31:50
  like
• 31:50
  in
• 31:50
  France,
• 31:51
  like
• 31:51
  into
• 31:51
  UK
• 31:54
  global
• 31:54
  fashion
• 31:55
  brands,
• 31:56
  let's
• 31:57
  say
• 31:58
  strong
• 31:59
  brands
• 32:00
  into
• 32:00
  fashion
• 32:02
  are
• 32:02
  not
• 32:03
  in
• 32:03
  TikTok
• 32:03
  yet.
• 32:04
  They
• 32:04
  do
• 32:04
  some
• 32:04
  test,
• 32:05
  they
• 32:05
  do
• 32:05
  some
• 32:05
  test
• 32:06
  and
• 32:06
  learning,
• 32:06
  they
• 32:06
  try.
• 32:07
  But
• 32:08
  at
• 32:08
  the
• 32:08
  moment
• 32:10
  for
• 32:10
  fashion
• 32:10
  brands
• 32:12
  it's
• 32:12
  not
• 32:12
  a
• 32:12
  destination.
• 32:14
  And
• 32:14
  in
• 32:15
  Spain
• 32:15
  is
• 32:15
  the
• 32:15
  same.
• 32:16
  When
• 32:16
  you
• 32:16
  talk
• 32:17
  to
• 32:17
  Spanish
• 32:17
  brands
• 32:17
  about
• 32:18
  TikTok,
• 32:20
  they've
• 32:20
  tried,
• 32:21
  the
• 32:21
  engagement
• 32:22
  is
• 32:22
  poor,
• 32:25
  results
• 32:25
  are
• 32:25
  not
• 32:25
  that
• 32:26
  important.
• 32:28
  But
• 32:28
  it's
• 32:29
  working
• 32:29
  for
• 32:30
  the
• 32:31
  brands
• 32:31
  we
• 32:31
  were
• 32:31
  saying
• 32:31
  before,
• 32:32
  which
• 32:32
  is,
• 32:33
  I
• 32:34
  don't
• 32:34
  know,
• 32:34
  the
• 32:34
  right
• 32:34
  T
• 32:34
  shirt
• 32:35
  at
• 32:35
  the
• 32:35
  right
• 32:35
  price,
• 32:36
  it's
• 32:36
  working
• 32:36
  for
• 32:36
  cosmetics.
• 32:38
  But
• 32:39
  for
• 32:39
  the
• 32:39
  fashion
• 32:40
  brands,
• 32:40
  we're
• 32:40
  talking
• 32:41
  about
• 32:41
  lifestyle
• 32:43
  and
• 32:43
  more
• 32:43
  mainstream,
• 32:45
  it's
• 32:46
  still
• 32:46
  not
• 32:46
  a
• 32:46
  destination
• 32:47
  now,
• 32:48
  even
• 32:48
  though
• 32:49
  I
• 32:49
  think
• 32:49
  that
• 32:50
  like
• 32:50
  UK
• 32:53
  social
• 32:53
  commerce
• 32:54
  into
• 32:54
  Spain
• 32:55
  in
• 32:56
  my
• 32:56
  opinion
• 32:56
  will
• 32:57
  go
• 32:57
  faster
• 32:58
  than
• 32:58
  countries
• 32:59
  like
• 32:59
  France,
• 33:00
  maybe
• 33:01
  like
• 33:01
  Germany,
• 33:02
  where
• 33:02
  we
• 33:02
  are
• 33:02
  more
• 33:03
  traditional
• 33:04
  in
• 33:04
  our
• 33:04
  way
• 33:04
  of
• 33:05
  buying
• 33:05
  or
• 33:06
  way
• 33:06
  of
• 33:06
  spending.
• 33:08
  And
• 33:08
  I
• 33:08
  think
• 33:08
  as
• 33:09
  well
• 33:11
  there
• 33:11
  is
• 33:11
  a
• 33:13
  consumption
• 33:14
  in
• 33:14
  Spain
• 33:16
  you
• 33:16
  have
• 33:16
  two
• 33:17
  rhythms
• 33:17
  of
• 33:17
  consumption.
• 33:18
  You
• 33:19
  have,
• 33:19
  let's
• 33:19
  say
• 33:20
  the
• 33:21
  older
• 33:22
  mentality,
• 33:23
  older
• 33:24
  consumer
• 33:24
  who
• 33:25
  continues
• 33:25
  to
• 33:26
  go
• 33:26
  to
• 33:26
  a
• 33:26
  coating
• 33:26
  list,
• 33:27
  for
• 33:27
  example,
• 33:28
  okay.
• 33:29
  And
• 33:30
  you
• 33:30
  have
• 33:30
  the
• 33:30
  younger
• 33:31
  consumer,
• 33:33
  very
• 33:33
  mobile,
• 33:34
  engaged,
• 33:35
  looking
• 33:36
  for
• 33:36
  trends,
• 33:37
  looking
• 33:37
  for
• 33:37
  novelties,
• 33:39
  going
• 33:39
  to
• 33:39
  buy
• 33:40
  abroad
• 33:41
  and
• 33:43
  matching
• 33:43
  a
• 33:44
  sheen,
• 33:44
  matching
• 33:44
  a
• 33:45
  TikTok.
• 33:46
  But
• 33:47
  brands
• 33:48
  are
• 33:48
  not,
• 33:50
  are
• 33:50
  not
• 33:51
  capable
• 33:51
  right
• 33:51
  now
• 33:52
  to
• 33:52
  engage
• 33:52
  with
• 33:53
  this,
• 33:54
  how
• 33:54
  can
• 33:54
  I
• 33:55
  say,
• 33:56
  with
• 33:56
  this
• 33:56
  audience
• 33:57
  and
• 33:57
  we
• 33:58
  see
• 33:58
  it
• 33:58
  also
• 33:58
  in
• 33:58
  France,
• 34:00
  the
• 34:00
  beginning
• 34:00
  of
• 34:00
  TikTok
• 34:01
  in
• 34:01
  France
• 34:01
  for
• 34:01
  fashion
• 34:02
  is
• 34:02
  not
• 34:02
  easy.
• 34:04
  And
• 34:04
  from
• 34:04
  the
• 34:04
  brands
• 34:05
  I'm
• 34:05
  talking
• 34:05
  to
• 34:05
  in
• 34:06
  Spain
• 34:06
  is
• 34:06
  the
• 34:06
  same.
• 34:08
  Interesting.
• 34:09
  Yeah,
• 34:10
  because
• 34:10
  that's
• 34:10
  what
• 34:10
  I
• 34:12
  directly
• 34:13
  thought
• 34:13
  about
• 34:13
  TikTok
• 34:14
  Shop.
• 34:14
  When
• 34:14
  you're
• 34:14
  talking
• 34:14
  about
• 34:15
  the
• 34:15
  young
• 34:16
  consumer,
• 34:16
  the
• 34:17
  fashion
• 34:17
  driven
• 34:19
  the
• 34:19
  people
• 34:19
  who
• 34:20
  try
• 34:20
  to
• 34:20
  try
• 34:20
  out
• 34:20
  D2C
• 34:21
  brands
• 34:21
  and
• 34:22
  stuff
• 34:22
  like
• 34:22
  that.
• 34:22
  So
• 34:22
  I
• 34:22
  was
• 34:23
  like,
• 34:23
  yeah,
• 34:23
  that
• 34:23
  sounds
• 34:23
  like
• 34:23
  TikTok
• 34:24
  shop.
• 34:24
  So
• 34:25
  are
• 34:25
  there
• 34:25
  other
• 34:27
  established
• 34:28
  brands
• 34:29
  sort
• 34:29
  of
• 34:29
  sleeping
• 34:30
  on
• 34:30
  the
• 34:30
  trend
• 34:30
  here?
• 34:31
  What
• 34:31
  I
• 34:32
  would
• 34:32
  say
• 34:32
  something
• 34:32
  that
• 34:33
  has
• 34:34
  been
• 34:34
  working
• 34:34
  quite
• 34:35
  well
• 34:35
  into
• 34:36
  Spain
• 34:36
  and
• 34:37
  we
• 34:37
  will
• 34:37
  go
• 34:38
  a
• 34:38
  bit
• 34:38
  outside
• 34:39
  fashion
• 34:39
  and
• 34:39
  we
• 34:39
  will
• 34:40
  go
• 34:40
  more
• 34:40
  to
• 34:40
  sports
• 34:41
  and
• 34:41
  outdoor
• 34:43
  is,
• 34:44
  is
• 34:44
  trading.
• 34:45
  Okay.
• 34:45
  So
• 34:47
  trading
• 34:47
  marketplace
• 34:48
  with
• 34:49
  every
• 34:49
  specificity
• 34:50
  they've
• 34:51
  been
• 34:51
  building
• 34:52
  apart
• 34:53
  from
• 34:53
  each
• 34:54
  different
• 34:55
  sport
• 34:55
  categories,
• 34:57
  they
• 34:57
  are
• 34:57
  very,
• 34:57
  very
• 34:58
  successful
• 34:58
  in
• 34:58
  Spain.
• 34:59
  Very
• 34:59
  successful.
• 34:59
  So
• 35:00
  they
• 35:00
  are
• 35:01
  not
• 35:02
  that
• 35:02
  capable
• 35:02
  to
• 35:03
  go
• 35:03
  outside
• 35:04
  the
• 35:04
  border.
• 35:05
  But
• 35:06
  for
• 35:07
  sports
• 35:08
  brands
• 35:08
  into
• 35:09
  Europe,
• 35:10
  in
• 35:10
  my
• 35:10
  opinion,
• 35:12
  you
• 35:12
  need
• 35:13
  to
• 35:13
  be
• 35:13
  in
• 35:13
  a
• 35:13
  player
• 35:14
  like
• 35:14
  Tradit
• 35:15
  because
• 35:16
  they
• 35:16
  are
• 35:16
  very
• 35:16
  well
• 35:17
  established
• 35:17
  to
• 35:17
  Spain.
• 35:19
  Interesting.
• 35:20
  I'm
• 35:21
  looking
• 35:21
  a
• 35:21
  bit
• 35:21
  at
• 35:21
  the
• 35:21
  time,
• 35:21
  but
• 35:22
  I'd
• 35:22
  like
• 35:22
  to
• 35:23
  rise
• 35:23
  one
• 35:24
  last
• 35:24
  topic
• 35:25
  and
• 35:25
  that
• 35:25
  is
• 35:25
  secondhand
• 35:26
  because
• 35:26
  when
• 35:27
  I
• 35:27
  was
• 35:27
  talking
• 35:27
  with
• 35:28
  Deborah
• 35:28
  on
• 35:29
  the
• 35:29
  French
• 35:29
  market,
• 35:30
  she
• 35:30
  really
• 35:31
  insisted
• 35:31
  on
• 35:32
  saying
• 35:32
  we
• 35:33
  can't
• 35:33
  forget
• 35:33
  about
• 35:33
  Vinted
• 35:34
  and
• 35:35
  how
• 35:35
  much
• 35:35
  they
• 35:35
  have
• 35:35
  grown
• 35:36
  in
• 35:36
  France.
• 35:37
  And
• 35:37
  when
• 35:38
  I
• 35:38
  was
• 35:38
  doing
• 35:38
  our
• 35:38
  last
• 35:39
  update
• 35:39
  of
• 35:39
  the
• 35:40
  Spanish
• 35:41
  marketplace
• 35:42
  quadrant
• 35:42
  that
• 35:42
  I'm
• 35:43
  doing
• 35:43
  on
• 35:44
  several
• 35:44
  countries
• 35:44
  in
• 35:45
  Europe
• 35:45
  which
• 35:45
  are
• 35:45
  the
• 35:46
  most
• 35:46
  relevant
• 35:46
  marketplaces
• 35:47
  in
• 35:47
  this
• 35:47
  area,
• 35:48
  I
• 35:48
  did
• 35:49
  the
• 35:49
  same
• 35:49
  there
• 35:49
  and
• 35:49
  put
• 35:50
  Vinted
• 35:50
  up,
• 35:51
  which
• 35:51
  I
• 35:51
  hadn't
• 35:51
  had
• 35:52
  before.
• 35:53
  So
• 35:53
  how
• 35:53
  important
• 35:54
  is
• 35:54
  second
• 35:55
  hand
• 35:55
  in
• 35:55
  your
• 35:55
  opinion
• 35:56
  for
• 35:56
  fashion
• 35:57
  e
• 35:57
  commerce
• 35:57
  in
• 35:58
  Spain?
• 35:58
  At
• 35:58
  the
• 35:58
  moment?
• 35:59
  I
• 36:00
  would
• 36:00
  say
• 36:00
  it's
• 36:00
  less
• 36:01
  mature
• 36:02
  than
• 36:03
  a
• 36:03
  country
• 36:03
  like
• 36:04
  France.
• 36:05
  So
• 36:05
  Vinted
• 36:06
  is
• 36:06
  there.
• 36:07
  But
• 36:08
  it's
• 36:08
  interesting
• 36:09
  to
• 36:09
  deep
• 36:09
  dive
• 36:10
  on
• 36:10
  a
• 36:10
  local
• 36:11
  player
• 36:12
  which
• 36:13
  was
• 36:13
  born
• 36:15
  before
• 36:15
  Vinted
• 36:16
  arrived,
• 36:16
  which
• 36:17
  is
• 36:17
  called
• 36:17
  Wallapop.
• 36:19
  So
• 36:19
  you
• 36:19
  have,
• 36:20
  you
• 36:20
  have
• 36:20
  a
• 36:20
  local
• 36:21
  player
• 36:22
  which
• 36:23
  has
• 36:23
  got.
• 36:24
  I
• 36:24
  think
• 36:25
  that
• 36:25
  compared
• 36:25
  to.
• 36:28
  I
• 36:29
  tried
• 36:29
  to
• 36:29
  get
• 36:29
  a
• 36:29
  bit
• 36:29
  of
• 36:30
  data
• 36:31
  before
• 36:32
  this
• 36:32
  discussion.
• 36:34
  They
• 36:34
  have
• 36:34
  three
• 36:35
  or
• 36:35
  four
• 36:35
  times
• 36:35
  more
• 36:36
  unique
• 36:36
  visitors
• 36:37
  than
• 36:37
  Vinted
• 36:38
  into
• 36:38
  Spain.
• 36:39
  So
• 36:40
  it's
• 36:41
  within
• 36:41
  the
• 36:41
  B2C
• 36:43
  fashion
• 36:45
  secondhand
• 36:47
  starts
• 36:48
  to
• 36:48
  be
• 36:50
  away
• 36:51
  into
• 36:51
  Spain,
• 36:52
  but
• 36:53
  it's
• 36:53
  a
• 36:53
  trend
• 36:53
  that
• 36:53
  arrived
• 36:54
  much
• 36:54
  later
• 36:55
  and
• 36:58
  it's
• 36:58
  gonna
• 36:59
  take
• 36:59
  a
• 36:59
  bit
• 36:59
  of
• 36:59
  time.
• 37:00
  That's,
• 37:00
  that's
• 37:01
  my,
• 37:01
  that's
• 37:01
  my
• 37:01
  opinion.
• 37:03
  Interesting.
• 37:05
  Okay.
• 37:05
  Right
• 37:06
  then
• 37:07
  I
• 37:07
  guess
• 37:07
  let's
• 37:09
  wrap
• 37:09
  up
• 37:09
  this
• 37:10
  discussion
• 37:10
  with
• 37:11
  maybe
• 37:11
  your
• 37:12
  last
• 37:12
  tip
• 37:13
  for
• 37:13
  everyone
• 37:13
  starting
• 37:14
  out
• 37:14
  in
• 37:14
  Spain.
• 37:15
  What
• 37:16
  kind
• 37:16
  of
• 37:16
  mistakes
• 37:17
  should
• 37:18
  a
• 37:18
  foreign
• 37:18
  fashion
• 37:19
  brand
• 37:19
  avoid
• 37:20
  when
• 37:20
  they
• 37:20
  start
• 37:21
  in
• 37:21
  the
• 37:21
  Spanish
• 37:21
  market?
• 37:23
  So
• 37:24
  I
• 37:24
  will
• 37:24
  go
• 37:24
  back
• 37:25
  to
• 37:25
  the
• 37:25
  fact
• 37:25
  that
• 37:26
  you
• 37:27
  need
• 37:27
  to
• 37:27
  apply
• 37:27
  for
• 37:28
  a
• 37:29
  local
• 37:29
  approach.
• 37:29
  Okay.
• 37:30
  So
• 37:30
  that's
• 37:31
  for
• 37:31
  me
• 37:32
  the
• 37:32
  first
• 37:32
  one.
• 37:32
  So
• 37:33
  local
• 37:33
  approach,
• 37:34
  the
• 37:34
  first
• 37:34
  of
• 37:34
  all
• 37:35
  is
• 37:35
  assortment.
• 37:36
  So
• 37:36
  sometimes
• 37:37
  you
• 37:37
  see
• 37:37
  brands
• 37:39
  going
• 37:39
  with
• 37:39
  the
• 37:39
  same
• 37:40
  assortment
• 37:41
  in
• 37:41
  each
• 37:42
  of
• 37:42
  the
• 37:42
  countries.
• 37:43
  So
• 37:43
  I
• 37:43
  think
• 37:43
  that
• 37:43
  you
• 37:44
  need
• 37:44
  to
• 37:44
  get
• 37:45
  at
• 37:45
  first
• 37:46
  the
• 37:46
  appropriate
• 37:47
  local
• 37:47
  assortment
• 37:48
  according
• 37:49
  to
• 37:49
  which
• 37:49
  marketplace
• 37:50
  or
• 37:50
  which,
• 37:51
  which
• 37:52
  network
• 37:53
  you're
• 37:54
  going
• 37:54
  to
• 37:54
  go.
• 37:54
  That's,
• 37:55
  that's
• 37:55
  very
• 37:55
  important.
• 37:56
  You
• 37:56
  need
• 37:57
  to
• 37:57
  be
• 37:58
  selecting
• 37:59
  the
• 37:59
  right
• 37:59
  partners.
• 38:00
  I
• 38:00
  don't
• 38:00
  think
• 38:00
  that
• 38:01
  I
• 38:01
  see
• 38:01
  sometimes
• 38:02
  a
• 38:02
  lot
• 38:02
  of
• 38:02
  brands
• 38:03
  that
• 38:04
  we
• 38:04
  discuss
• 38:05
  with
• 38:05
  before
• 38:05
  partnering.
• 38:06
  I
• 38:07
  want
• 38:07
  to
• 38:07
  do
• 38:09
  5,
• 38:09
  6,
• 38:09
  7
• 38:10
  Marketplace
• 38:10
  at
• 38:10
  once.
• 38:11
  So
• 38:11
  if
• 38:12
  you
• 38:12
  go
• 38:12
  tomorrow
• 38:12
  to
• 38:13
  Spain,
• 38:13
  you
• 38:13
  need
• 38:13
  to
• 38:14
  be
• 38:14
  selective.
• 38:14
  So
• 38:15
  if
• 38:15
  you
• 38:16
  have
• 38:16
  the
• 38:16
  capacity,
• 38:17
  because
• 38:17
  you
• 38:18
  already
• 38:18
  have
• 38:18
  a
• 38:19
  distribution
• 38:20
  to
• 38:20
  enter
• 38:21
  to
• 38:21
  Cortingless,
• 38:21
  you
• 38:22
  need
• 38:22
  to
• 38:22
  play
• 38:22
  with
• 38:22
  Cortingless
• 38:23
  and
• 38:24
  maybe
• 38:24
  with
• 38:24
  Amazon
• 38:25
  or
• 38:25
  maybe
• 38:25
  with
• 38:26
  Zalando,
• 38:26
  depending
• 38:27
  on
• 38:28
  your
• 38:28
  categories
• 38:28
  or
• 38:29
  your
• 38:29
  positioning.
• 38:30
  But
• 38:30
  you
• 38:30
  don't
• 38:31
  have
• 38:31
  to
• 38:31
  deep
• 38:31
  dive
• 38:31
  in
• 38:32
  four
• 38:32
  or
• 38:33
  five
• 38:33
  options.
• 38:35
  So
• 38:35
  that's
• 38:35
  the
• 38:35
  second
• 38:36
  topic.
• 38:36
  So
• 38:36
  first,
• 38:36
  assortment.
• 38:37
  Second,
• 38:38
  being
• 38:38
  selective
• 38:39
  in
• 38:39
  your
• 38:39
  strategy.
• 38:41
  Third,
• 38:42
  as
• 38:43
  I
• 38:43
  said,
• 38:43
  I
• 38:43
  think
• 38:43
  in
• 38:44
  one
• 38:45
  of
• 38:45
  the
• 38:45
  topics
• 38:46
  before,
• 38:48
  what
• 38:49
  content
• 38:49
  you
• 38:50
  push.
• 38:50
  Okay.
• 38:50
  So
• 38:51
  you
• 38:51
  need
• 38:51
  to
• 38:51
  be
• 38:51
  very,
• 38:52
  you
• 38:52
  need
• 38:52
  to
• 38:52
  be
• 38:53
  perceived
• 38:53
  as
• 38:54
  trendy,
• 38:55
  as
• 38:56
  bringing
• 38:56
  innovation,
• 38:57
  bringing
• 38:57
  fashion.
• 38:59
  You
• 39:00
  have
• 39:01
  a
• 39:01
  strong
• 39:01
  network
• 39:02
  into
• 39:02
  Spain
• 39:03
  of
• 39:03
  sustainable
• 39:04
  brands.
• 39:05
  There
• 39:05
  is
• 39:05
  in
• 39:06
  my
• 39:06
  opinion,
• 39:06
  if
• 39:07
  I
• 39:07
  compare
• 39:07
  Spain
• 39:08
  to
• 39:08
  France,
• 39:09
  I
• 39:10
  am
• 39:10
  happy
• 39:10
  to
• 39:11
  say
• 39:11
  that
• 39:11
  a
• 39:11
  lot
• 39:12
  of
• 39:12
  the
• 39:12
  new
• 39:12
  brands
• 39:13
  that
• 39:13
  came
• 39:13
  in
• 39:14
  in
• 39:14
  the
• 39:14
  last
• 39:15
  eight
• 39:15
  to
• 39:15
  five
• 39:15
  years,
• 39:17
  they
• 39:17
  are
• 39:17
  very,
• 39:18
  very
• 39:18
  strong
• 39:18
  into
• 39:19
  sustainability.
• 39:20
  So
• 39:20
  if
• 39:20
  you
• 39:20
  can
• 39:21
  bring
• 39:21
  to
• 39:21
  the
• 39:21
  Spanish
• 39:21
  market
• 39:22
  this
• 39:22
  attitude
• 39:23
  by
• 39:24
  your
• 39:24
  DNA,
• 39:24
  by
• 39:25
  the
• 39:25
  type
• 39:25
  of
• 39:25
  products
• 39:25
  you
• 39:26
  have,
• 39:26
  I
• 39:26
  think
• 39:26
  that
• 39:27
  play
• 39:27
  this
• 39:27
  card
• 39:28
  because
• 39:28
  sustainability
• 39:29
  is
• 39:31
  recognized
• 39:32
  and
• 39:32
  important
• 39:33
  into
• 39:33
  Spanish
• 39:34
  market.
• 39:34
  Okay.
• 39:36
  And
• 39:37
  then
• 39:38
  this
• 39:39
  you
• 39:39
  have,
• 39:40
  you
• 39:40
  need
• 39:40
  to
• 39:40
  have
• 39:40
  it.
• 39:41
  If
• 39:41
  you
• 39:41
  are
• 39:41
  a
• 39:41
  brand
• 39:42
  with
• 39:44
  no
• 39:44
  promotional
• 39:45
  DNA
• 39:47
  that
• 39:47
  you
• 39:48
  feel
• 39:48
  that
• 39:48
  promotion
• 39:50
  is
• 39:50
  going
• 39:51
  to
• 39:51
  hurt
• 39:51
  your,
• 39:53
  your
• 39:53
  positioning
• 39:54
  is
• 39:54
  going
• 39:54
  to
• 39:54
  hurt
• 39:54
  your
• 39:55
  image,
• 39:55
  which
• 39:55
  is
• 39:56
  completely
• 39:57
  understandable.
• 39:59
  You
• 39:59
  will
• 39:59
  miss
• 39:59
  this
• 40:00
  part
• 40:01
  about
• 40:02
  pricing,
• 40:03
  pricing
• 40:04
  sensitiveness
• 40:05
  of
• 40:06
  the
• 40:06
  Spanish
• 40:06
  market.
• 40:07
  But
• 40:07
  I
• 40:07
  want
• 40:08
  to
• 40:08
  be
• 40:08
  very,
• 40:08
  very
• 40:08
  transparent.
• 40:09
  It's
• 40:10
  not
• 40:10
  the
• 40:10
  only
• 40:12
  entry
• 40:12
  point.
• 40:15
  Yeah.
• 40:15
  But
• 40:15
  still
• 40:16
  an
• 40:16
  important
• 40:17
  one,
• 40:17
  I
• 40:17
  guess.
• 40:18
  Okay.
• 40:19
  Right,
• 40:19
  Roman,
• 40:19
  So
• 40:20
  thank
• 40:20
  you
• 40:20
  very
• 40:20
  much
• 40:21
  for
• 40:21
  your
• 40:21
  insights
• 40:21
  on
• 40:22
  the
• 40:22
  Spanish
• 40:22
  market.
• 40:22
  I
• 40:23
  think
• 40:23
  that
• 40:23
  gave
• 40:24
  a
• 40:24
  lot
• 40:24
  of
• 40:24
  fashion
• 40:24
  brand
• 40:25
  some
• 40:25
  food
• 40:25
  for
• 40:26
  thought.
• 40:27
  So
• 40:27
  thanks
• 40:27
  to
• 40:28
  you
• 40:28
  all
• 40:28
  for
• 40:28
  joining
• 40:28
  us
• 40:29
  and
• 40:29
  for
• 40:29
  listening
• 40:30
  to
• 40:30
  us.
• 40:30
  I
• 40:30
  hope
• 40:30
  it
• 40:30
  was
• 40:30
  helpful
• 40:31
  and
• 40:32
  if
• 40:32
  you
• 40:32
  want
• 40:33
  to
• 40:33
  do
• 40:33
  join
• 40:34
  us
• 40:34
  again
• 40:34
  in
• 40:34
  two
• 40:34
  weeks
• 40:34
  time
• 40:35
  while
• 40:35
  we
• 40:35
  talk
• 40:35
  about
• 40:35
  another
• 40:36
  new
• 40:36
  and
• 40:36
  interesting
• 40:37
  marketplace
• 40:38
  player
• 40:38
  which
• 40:39
  is
• 40:39
  on
• 40:39
  Buy,
• 40:39
  who's
• 40:40
  now
• 40:40
  coming
• 40:40
  to
• 40:41
  continental
• 40:42
  Europe.
• 40:42
  Yeah,
• 40:43
  that
• 40:43
  should
• 40:43
  be
• 40:43
  nice
• 40:44
  as
• 40:44
  well.
• 40:44
  So.
• 40:44
  Right.
• 40:45
  Thank
• 40:45
  you
• 40:45
  very
• 40:45
  much.
• 40:46
  Thank
• 40:46
  you,
• 40:46
  Ingrid.
• 40:47
  It
• 40:47
  was
• 40:47
  nice
• 40:47
  to
• 40:47
  be
• 40:47
  with
• 40:47
  you
• 40:48
  and
• 40:49
  I
• 40:49
  hope
• 40:49
  that
• 40:50
  I
• 40:50
  would
• 40:50
  will
• 40:51
  I
• 40:51
  will
• 40:52
  be
• 40:52
  able
• 40:52
  to
• 40:52
  give
• 40:52
  a
• 40:52
  little
• 40:53
  key
• 40:53
  of
• 40:54
  entry
• 40:55
  to
• 40:55
  this
• 40:55
  beautiful
• 40:56
  market.
• 40:57
  Absolutely.
• 40:58
  Byebye.
• 40:58
  Bye.
• 40:59
  Bye.
• 40:59
  Bye.
• 41:05
  You
• 41:05
  listened
• 41:05
  to
• 41:06
  let's
• 41:06
  Talk
• 41:07
  Marketplace,
• 41:07
  the
• 41:08
  Marketplace
• 41:08
  podcast
• 41:09
  with
• 41:09
  Ingrid
• 41:09
  Lommer
• 41:10
  and
• 41:10
  Vanari
• 41:10
  Dichtel.