Latest / Omni Talk Retail / KIKO Milano CEO on Global Expansion, One-Handed Lipstick & US Market Entry

Transcript

KIKO Milano CEO on Global Expansion, One-Handed Lipstick & US Market Entry · Omni Talk Retail

• 0:00
  Bonjour.
• 0:01
  Welcome
• 0:01
  back,
• 0:02
  everyone.
• 0:02
  This
• 0:03
  is
• 0:03
  omnitalk
• 0:04
  retail.
• 0:04
  I'm
• 0:04
  Anne
• 0:05
  Mazinga.
• 0:05
  And
• 0:05
  I'm
• 0:05
  Chris
• 0:06
  Walton.
• 0:06
  And
• 0:06
  we're
• 0:07
  coming
• 0:07
  to
• 0:07
  you
• 0:07
  live
• 0:07
  from
• 0:07
  the
• 0:08
  Fusion
• 0:08
  Group
• 0:08
  booth
• 0:08
  here
• 0:09
  at
• 0:09
  NRF
• 0:09
  Europe
• 0:10
  with
• 0:10
  our
• 0:11
  day
• 0:11
  three
• 0:12
  of
• 0:12
  coverage
• 0:13
  here
• 0:13
  at
• 0:13
  the
• 0:14
  show.
• 0:14
  And
• 0:14
  standing
• 0:15
  between
• 0:15
  Chris
• 0:16
  and
• 0:16
  I
• 0:16
  are
• 0:17
  the
• 0:18
  one
• 0:18
  and
• 0:18
  only
• 0:19
  Simone
• 0:19
  Dominici,
• 0:21
  the
• 0:21
  CEO
• 0:21
  of
• 0:21
  Chico
• 0:22
  Milano.
• 0:23
  Simone,
• 0:24
  welcome
• 0:24
  to
• 0:25
  omnitalk.
• 0:25
  Thank
• 0:25
  you.
• 0:26
  Thank
• 0:26
  you
• 0:26
  for
• 0:26
  having
• 0:27
  me
• 0:27
  here.
• 0:27
  We're
• 0:28
  so
• 0:28
  excited.
• 0:28
  I
• 0:29
  have
• 0:29
  a
• 0:29
  lot
• 0:29
  of
• 0:29
  questions.
• 0:30
  I
• 0:30
  bet
• 0:30
  you
• 0:30
  do,
• 0:31
  Ed.
• 0:31
  I
• 0:31
  bet
• 0:31
  you.
• 0:32
  I
• 0:32
  was
• 0:32
  really
• 0:32
  excited.
• 0:33
  I
• 0:33
  saw
• 0:33
  you
• 0:33
  on
• 0:33
  the
• 0:33
  dock.
• 0:34
  I
• 0:34
  wouldn't
• 0:34
  expect
• 0:34
  anything
• 0:35
  less.
• 0:36
  And
• 0:36
  we
• 0:36
  got
• 0:36
  a
• 0:36
  little
• 0:37
  tease
• 0:37
  before.
• 0:37
  There
• 0:37
  may
• 0:37
  even
• 0:37
  be
• 0:38
  some
• 0:38
  props
• 0:38
  that
• 0:38
  are
• 0:38
  shown
• 0:39
  in
• 0:39
  this
• 0:40
  segment,
• 0:40
  so.
• 0:40
  Well,
• 0:41
  let's
• 0:41
  get
• 0:41
  to
• 0:41
  it.
• 0:41
  So
• 0:42
  tell
• 0:42
  us
• 0:42
  about
• 0:42
  yourself.
• 0:42
  Tell
• 0:43
  us
• 0:43
  about
• 0:43
  your
• 0:43
  background,
• 0:43
  how
• 0:44
  you
• 0:44
  became
• 0:44
  CEO
• 0:45
  and
• 0:45
  also
• 0:45
  about
• 0:45
  Kiko
• 0:46
  for
• 0:46
  maybe
• 0:46
  those
• 0:46
  back
• 0:47
  home.
• 0:48
  Yeah,
• 0:48
  I
• 0:48
  was
• 0:48
  born
• 0:48
  in
• 0:49
  Rome
• 0:50
  and
• 0:50
  then
• 0:51
  I
• 0:51
  worked
• 0:51
  always
• 0:51
  in
• 0:52
  the
• 0:52
  consumer
• 0:52
  industries,
• 0:53
  but
• 0:53
  I
• 0:53
  worked
• 0:53
  in
• 0:54
  many
• 0:54
  different
• 0:54
  pricing
• 0:55
  tiers.
• 0:55
  Consumer
• 0:56
  industry.
• 0:56
  I
• 0:56
  was
• 0:56
  in
• 0:57
  food,
• 0:57
  in
• 0:57
  ice
• 0:58
  cream,
• 0:58
  in
• 0:58
  Unilever.
• 0:58
  Oh,
• 0:59
  Unilever.
• 0:59
  Right,
• 1:00
  okay.
• 1:00
  And
• 1:00
  then
• 1:00
  I
• 1:01
  went
• 1:01
  into
• 1:02
  home
• 1:02
  care.
• 1:03
  So
• 1:03
  I
• 1:03
  sold
• 1:04
  also
• 1:04
  VC
• 1:05
  cleaner
• 1:05
  and
• 1:06
  ring
• 1:06
  blocks
• 1:06
  of
• 1:07
  the
• 1:07
  1
• 1:07
  Euro.
• 1:07
  And
• 1:08
  right
• 1:08
  after
• 1:08
  I
• 1:08
  went
• 1:08
  to
• 1:08
  Bota
• 1:09
  gave
• 1:09
  selling
• 1:10
  €100,000
• 1:12
  crocodile
• 1:12
  bag.
• 1:13
  So
• 1:13
  I
• 1:13
  went
• 1:13
  in
• 1:14
  the
• 1:14
  consumer
• 1:15
  products
• 1:15
  from
• 1:15
  €1
• 1:16
  to
• 1:17
  €100,000.
• 1:17
  Is
• 1:18
  there
• 1:18
  anything
• 1:18
  you
• 1:18
  haven't
• 1:19
  been
• 1:19
  involved
• 1:20
  in
• 1:20
  in
• 1:20
  the
• 1:21
  consumer?
• 1:21
  I'm
• 1:21
  still
• 1:21
  young,
• 1:22
  so
• 1:23
  I
• 1:24
  have
• 1:24
  opportunity
• 1:24
  in
• 1:24
  the
• 1:24
  future.
• 1:25
  But
• 1:25
  let's
• 1:25
  focus
• 1:25
  on
• 1:25
  Kiko
• 1:26
  now.
• 1:26
  Let's
• 1:26
  focus
• 1:26
  on.
• 1:26
  That
• 1:27
  is
• 1:27
  a
• 1:27
  big
• 1:27
  difference,
• 1:27
  though.
• 1:27
  That
• 1:28
  is
• 1:28
  a
• 1:28
  big
• 1:28
  difference.
• 1:28
  So
• 1:29
  tell
• 1:29
  us
• 1:29
  about
• 1:29
  Kiko
• 1:29
  too.
• 1:30
  What
• 1:30
  is
• 1:30
  Kiko
• 1:31
  known
• 1:31
  for?
• 1:31
  Kiko
• 1:32
  is
• 1:32
  the
• 1:32
  Italian
• 1:33
  beauty
• 1:33
  brand
• 1:34
  leading
• 1:34
  in
• 1:34
  the
• 1:34
  world
• 1:35
  who
• 1:35
  disrupted
• 1:35
  the
• 1:35
  market.
• 1:36
  It
• 1:36
  disrupted
• 1:37
  the
• 1:37
  market
• 1:37
  by
• 1:38
  combining
• 1:38
  three
• 1:39
  elements.
• 1:40
  So
• 1:40
  delivering
• 1:41
  a
• 1:41
  fun
• 1:41
  experience,
• 1:42
  playful,
• 1:43
  colorful,
• 1:43
  vibrant
• 1:44
  experience
• 1:44
  online
• 1:45
  offline.
• 1:46
  Second
• 1:46
  one,
• 1:46
  unmatched
• 1:47
  convenience.
• 1:48
  It
• 1:48
  doesn't
• 1:49
  mean
• 1:49
  we
• 1:49
  are
• 1:49
  the
• 1:49
  cheapest
• 1:49
  in
• 1:50
  the
• 1:50
  market,
• 1:50
  but
• 1:52
  you
• 1:52
  cannot
• 1:52
  find
• 1:53
  any
• 1:53
  product
• 1:53
  at
• 1:54
  the
• 1:54
  same
• 1:54
  quality
• 1:54
  of
• 1:54
  cheaper
• 1:55
  price.
• 1:55
  So
• 1:56
  we
• 1:56
  commit
• 1:56
  to
• 1:56
  deliver
• 1:57
  always
• 1:57
  the
• 1:57
  best
• 1:57
  quality
• 1:58
  for
• 1:58
  money
• 1:58
  experience.
• 1:59
  And
• 1:59
  the
• 1:59
  third
• 1:59
  one,
• 2:00
  cutting
• 2:00
  edge
• 2:00
  innovation.
• 2:01
  We
• 2:02
  innovate
• 2:02
  more
• 2:03
  than
• 2:03
  any
• 2:03
  other
• 2:03
  competitors.
• 2:04
  We
• 2:04
  launch
• 2:04
  more
• 2:05
  than
• 2:05
  400
• 2:05
  SKUs,
• 2:06
  new
• 2:06
  SKUs
• 2:07
  per
• 2:07
  year,
• 2:08
  out
• 2:08
  of
• 2:08
  which
• 2:09
  someone
• 2:09
  really
• 2:10
  breaks
• 2:10
  through.
• 2:10
  Innovation.
• 2:11
  And
• 2:11
  I
• 2:11
  will
• 2:11
  present
• 2:12
  you
• 2:12
  something
• 2:13
  exclusive
• 2:13
  for
• 2:13
  you.
• 2:14
  All
• 2:14
  right?
• 2:14
  Okay.
• 2:15
  All
• 2:15
  right.
• 2:15
  He's
• 2:15
  teasing
• 2:16
  it
• 2:16
  still.
• 2:16
  Fun
• 2:17
  experience.
• 2:18
  Fun
• 2:18
  experience.
• 2:19
  Convenience
• 2:20
  unmatched.
• 2:20
  And
• 2:20
  innovation.
• 2:21
  This
• 2:21
  is
• 2:21
  the
• 2:22
  magic
• 2:22
  of
• 2:22
  Kiko.
• 2:23
  Yeah,
• 2:23
  I
• 2:23
  will.
• 2:24
  Three
• 2:24
  legs
• 2:24
  of
• 2:24
  the
• 2:24
  stool.
• 2:25
  I
• 2:25
  know
• 2:25
  I
• 2:25
  can
• 2:25
  attest
• 2:26
  to
• 2:26
  that.
• 2:26
  After
• 2:26
  visiting
• 2:27
  one
• 2:27
  of
• 2:27
  the
• 2:27
  stores.
• 2:28
  I've
• 2:28
  never
• 2:28
  seen
• 2:30
  so
• 2:30
  many
• 2:30
  versions
• 2:31
  of
• 2:31
  eyeliner
• 2:32
  at
• 2:32
  one
• 2:32
  store
• 2:33
  under
• 2:33
  one
• 2:34
  brand,
• 2:34
  and
• 2:35
  every
• 2:35
  one
• 2:35
  was
• 2:35
  different
• 2:36
  than
• 2:36
  the
• 2:36
  next.
• 2:36
  Every
• 2:36
  formulation.
• 2:38
  Well,
• 2:38
  so
• 2:39
  what
• 2:39
  brings
• 2:39
  you
• 2:39
  to
• 2:39
  NRF
• 2:40
  Paris?
• 2:40
  What
• 2:41
  are
• 2:41
  you
• 2:41
  here
• 2:41
  to
• 2:41
  see?
• 2:42
  What
• 2:42
  are
• 2:43
  you
• 2:43
  here
• 2:43
  to
• 2:43
  do?
• 2:43
  Anything
• 2:44
  that
• 2:44
  like
• 2:45
  jumps
• 2:45
  out
• 2:45
  at
• 2:45
  you
• 2:45
  about
• 2:45
  this.
• 2:46
  I
• 2:46
  think
• 2:46
  it's
• 2:46
  a
• 2:46
  unique
• 2:47
  opportunity
• 2:47
  to
• 2:48
  have
• 2:48
  the
• 2:48
  full
• 2:49
  visibility
• 2:49
  with
• 2:49
  what
• 2:50
  is
• 2:50
  happening
• 2:50
  around
• 2:51
  tech.
• 2:51
  Okay.
• 2:52
  Tech
• 2:53
  is
• 2:53
  becoming
• 2:54
  more
• 2:54
  and
• 2:54
  more
• 2:54
  important
• 2:54
  in
• 2:55
  beauty
• 2:55
  in
• 2:56
  order
• 2:56
  to
• 2:56
  deliver
• 2:56
  a
• 2:56
  personalized
• 2:58
  experience
• 2:58
  to
• 2:59
  each
• 2:59
  customers.
• 2:59
  That's
• 3:00
  what
• 3:00
  we
• 3:00
  do.
• 3:00
  We
• 3:01
  use
• 3:01
  data
• 3:01
  analytics
• 3:02
  and
• 3:02
  tech
• 3:02
  to
• 3:03
  give
• 3:03
  you
• 3:03
  a
• 3:03
  personalized
• 3:04
  experience.
• 3:05
  At
• 3:05
  the
• 3:05
  end
• 3:05
  is
• 3:06
  always
• 3:06
  the
• 3:07
  customer
• 3:07
  experience
• 3:07
  that
• 3:08
  matters.
• 3:09
  And
• 3:09
  tech
• 3:09
  has
• 3:09
  to
• 3:09
  be
• 3:10
  at
• 3:10
  the
• 3:10
  service
• 3:10
  of
• 3:11
  a
• 3:11
  unique
• 3:11
  experience.
• 3:13
  Okay,
• 3:14
  so
• 3:14
  you
• 3:14
  mentioned
• 3:14
  the
• 3:14
  three
• 3:14
  legs
• 3:15
  of
• 3:15
  the
• 3:15
  stool
• 3:15
  or
• 3:15
  what
• 3:15
  the
• 3:16
  three
• 3:16
  things
• 3:16
  that
• 3:16
  the
• 3:16
  Keco
• 3:17
  brand
• 3:17
  is
• 3:17
  known
• 3:18
  for.
• 3:18
  So
• 3:18
  I'm
• 3:18
  asking
• 3:19
  you
• 3:19
  a
• 3:19
  little
• 3:19
  bit
• 3:19
  deeper
• 3:20
  here
• 3:20
  now
• 3:20
  and
• 3:20
  say,
• 3:21
  within
• 3:22
  that
• 3:22
  kind
• 3:22
  of
• 3:22
  overarching
• 3:23
  statement,
• 3:24
  what
• 3:24
  are
• 3:24
  your
• 3:24
  priorities
• 3:25
  as
• 3:25
  you
• 3:25
  look
• 3:25
  to
• 3:26
  the
• 3:26
  business
• 3:26
  for
• 3:27
  this
• 3:27
  coming
• 3:27
  year?
• 3:28
  We
• 3:29
  have
• 3:29
  priorities
• 3:29
  in
• 3:30
  four
• 3:30
  blocks.
• 3:31
  The
• 3:31
  first
• 3:31
  block
• 3:31
  is
• 3:32
  keep
• 3:32
  elevating
• 3:32
  the
• 3:32
  brand.
• 3:33
  We
• 3:33
  transform
• 3:34
  Kiko
• 3:35
  from
• 3:35
  a
• 3:35
  mass
• 3:36
  retailer
• 3:36
  into
• 3:36
  a
• 3:36
  global
• 3:37
  beauty
• 3:37
  brand.
• 3:38
  Now
• 3:38
  we
• 3:38
  want
• 3:38
  to
• 3:38
  keep
• 3:38
  elevating,
• 3:39
  becoming
• 3:39
  an
• 3:39
  icon,
• 3:40
  meaning
• 3:41
  that
• 3:41
  we
• 3:41
  are
• 3:42
  going
• 3:42
  to
• 3:42
  curate
• 3:42
  more
• 3:43
  and
• 3:43
  more
• 3:43
  the
• 3:43
  assortment.
• 3:43
  We
• 3:44
  are
• 3:44
  going
• 3:44
  to
• 3:44
  build
• 3:45
  our
• 3:45
  franchise
• 3:46
  around
• 3:46
  our
• 3:46
  key
• 3:47
  iconic
• 3:47
  products.
• 3:48
  We
• 3:48
  have
• 3:48
  a
• 3:48
  gloss
• 3:49
  which
• 3:49
  is
• 3:49
  very
• 3:49
  iconic.
• 3:50
  3D
• 3:50
  hydraulic.
• 3:51
  A
• 3:51
  mascara
• 3:51
  which
• 3:51
  is
• 3:52
  maximo,
• 3:52
  very
• 3:52
  iconic.
• 3:53
  A
• 3:53
  complexion
• 3:54
  which
• 3:54
  is
• 3:54
  full
• 3:54
  coverage
• 3:55
  very
• 3:55
  iconic.
• 3:56
  The
• 3:56
  third
• 3:57
  one
• 3:57
  is
• 3:57
  a
• 3:57
  global
• 3:58
  expansion.
• 3:58
  Kiko
• 3:59
  started
• 4:00
  in
• 4:00
  Milan
• 4:00
  in
• 4:00
  1997
• 4:01
  and
• 4:02
  bit
• 4:02
  by
• 4:02
  bit
• 4:03
  conquered
• 4:03
  the
• 4:04
  73
• 4:04
  countries.
• 4:05
  But
• 4:05
  we
• 4:05
  are
• 4:05
  not
• 4:05
  strong
• 4:06
  in
• 4:06
  all
• 4:06
  countries.
• 4:06
  For
• 4:07
  example,
• 4:07
  key
• 4:08
  priority
• 4:08
  for
• 4:08
  us
• 4:09
  in
• 4:09
  2016
• 4:09
  will
• 4:09
  be
• 4:10
  us.
• 4:10
  Okay.
• 4:11
  And
• 4:11
  then
• 4:11
  I
• 4:12
  hope
• 4:12
  you
• 4:12
  will
• 4:12
  find
• 4:12
  our
• 4:13
  products
• 4:13
  close
• 4:14
  to
• 4:14
  where
• 4:14
  you
• 4:14
  live
• 4:14
  in
• 4:15
  the
• 4:15
  coming
• 4:15
  years.
• 4:16
  I
• 4:16
  do
• 4:16
  too.
• 4:16
  And
• 4:16
  India.
• 4:17
  India.
• 4:18
  Oh,
• 4:18
  wow.
• 4:18
  Okay.
• 4:19
  Different
• 4:19
  strategy.
• 4:20
  Yeah.
• 4:20
  And
• 4:20
  if
• 4:21
  you
• 4:21
  want,
• 4:21
  I
• 4:21
  can
• 4:21
  go
• 4:21
  a
• 4:21
  little
• 4:21
  bit
• 4:22
  deeper
• 4:22
  and
• 4:22
  different
• 4:22
  go
• 4:22
  to
• 4:22
  market
• 4:23
  strategy,
• 4:23
  please.
• 4:24
  US
• 4:24
  is
• 4:25
  a
• 4:25
  market
• 4:25
  where
• 4:25
  you
• 4:26
  cannot
• 4:26
  approach
• 4:26
  us
• 4:26
  as
• 4:27
  you
• 4:27
  approach
• 4:27
  Europe
• 4:28
  because
• 4:29
  the
• 4:29
  distribution
• 4:30
  in
• 4:30
  US
• 4:31
  and
• 4:31
  the
• 4:31
  way
• 4:31
  the
• 4:31
  people
• 4:32
  shop
• 4:32
  in
• 4:32
  us
• 4:33
  is
• 4:33
  very
• 4:33
  multifaceted.
• 4:35
  So
• 4:35
  you
• 4:35
  need
• 4:35
  to
• 4:35
  have
• 4:35
  an
• 4:36
  hybrid
• 4:36
  go
• 4:36
  to
• 4:36
  market
• 4:37
  approach.
• 4:37
  You
• 4:37
  need.
• 4:38
  We
• 4:38
  will
• 4:38
  develop
• 4:38
  our
• 4:38
  own
• 4:39
  stores,
• 4:39
  which
• 4:39
  is
• 4:39
  our
• 4:40
  brick
• 4:40
  and
• 4:40
  mortar
• 4:41
  stores.
• 4:41
  What
• 4:42
  we
• 4:42
  have
• 4:42
  developed
• 4:43
  in
• 4:43
  Europe
• 4:44
  in
• 4:44
  the
• 4:44
  last
• 4:45
  years,
• 4:45
  we
• 4:45
  have.
• 4:45
  As
• 4:45
  a
• 4:46
  matter
• 4:46
  of
• 4:46
  fact,
• 4:46
  we
• 4:46
  have
• 4:46
  1350
• 4:48
  stores
• 4:48
  in
• 4:48
  73
• 4:49
  countries.
• 4:50
  But
• 4:50
  stores
• 4:50
  are
• 4:50
  not
• 4:51
  enough
• 4:51
  in
• 4:51
  us
• 4:51
  to
• 4:52
  penetrate
• 4:52
  the
• 4:52
  population
• 4:53
  to
• 4:53
  engage
• 4:53
  customers.
• 4:54
  You
• 4:54
  need
• 4:54
  to
• 4:54
  have
• 4:55
  our
• 4:55
  own
• 4:55
  D2C.
• 4:55
  So
• 4:56
  we
• 4:56
  open
• 4:56
  our
• 4:56
  own
• 4:56
  E
• 4:57
  Commerce.
• 4:57
  We
• 4:57
  partner
• 4:58
  with
• 4:58
  the
• 4:58
  major
• 4:58
  marketplaces.
• 4:59
  We
• 4:59
  became
• 5:00
  part
• 5:00
  of
• 5:00
  the
• 5:00
  Amazon
• 5:01
  premium
• 5:01
  recently.
• 5:02
  We
• 5:02
  partnered
• 5:02
  with
• 5:02
  TikTok
• 5:03
  and
• 5:03
  TikTok
• 5:03
  Shop.
• 5:04
  Fourth,
• 5:05
  you
• 5:05
  need
• 5:05
  to
• 5:06
  be
• 5:06
  in
• 5:06
  a
• 5:06
  major
• 5:06
  department
• 5:07
  stores
• 5:07
  because
• 5:08
  some
• 5:08
  customers,
• 5:09
  some
• 5:09
  cohort
• 5:09
  of
• 5:10
  customers
• 5:10
  in
• 5:10
  us
• 5:10
  shop
• 5:11
  in
• 5:11
  department
• 5:11
  stores.
• 5:12
  So
• 5:12
  we
• 5:12
  are
• 5:13
  now
• 5:13
  finalizing
• 5:13
  an
• 5:14
  agreement
• 5:14
  with
• 5:14
  the
• 5:15
  largest
• 5:15
  chain
• 5:16
  of
• 5:16
  department
• 5:16
  store
• 5:16
  in
• 5:17
  the
• 5:17
  US
• 5:17
  I
• 5:17
  cannot
• 5:18
  spoil
• 5:18
  you
• 5:18
  the
• 5:18
  name,
• 5:19
  but
• 5:19
  it's
• 5:19
  the
• 5:19
  largest
• 5:20
  one
• 5:20
  for
• 5:20
  which
• 5:21
  we
• 5:21
  will
• 5:21
  be
• 5:21
  present
• 5:21
  in
• 5:22
  them.
• 5:22
  And
• 5:23
  another
• 5:23
  channel
• 5:24
  will
• 5:24
  be
• 5:24
  the
• 5:24
  beauty
• 5:24
  specialist.
• 5:25
  So
• 5:25
  in
• 5:25
  order
• 5:26
  to
• 5:26
  succeed
• 5:26
  in
• 5:26
  US,
• 5:27
  you
• 5:27
  need
• 5:27
  to
• 5:27
  be
• 5:28
  in
• 5:28
  all
• 5:28
  channels,
• 5:29
  in
• 5:29
  all
• 5:29
  the
• 5:29
  touch
• 5:29
  points.
• 5:30
  India
• 5:31
  is
• 5:31
  a
• 5:31
  different
• 5:32
  kind
• 5:32
  of
• 5:33
  market
• 5:33
  because
• 5:33
  to
• 5:34
  penetrate
• 5:34
  India
• 5:35
  there
• 5:35
  are
• 5:35
  a
• 5:35
  lot
• 5:35
  of
• 5:36
  regulatory,
• 5:37
  a
• 5:37
  lot
• 5:37
  of
• 5:37
  specific
• 5:39
  characteristic
• 5:40
  in
• 5:41
  dealing
• 5:41
  with
• 5:41
  the
• 5:41
  landlord
• 5:42
  and
• 5:43
  employees
• 5:43
  and
• 5:44
  being
• 5:44
  an
• 5:44
  employer
• 5:44
  that
• 5:45
  you
• 5:45
  need
• 5:45
  to
• 5:45
  partner
• 5:45
  with
• 5:46
  the
• 5:46
  local
• 5:46
  partner.
• 5:46
  So
• 5:46
  we
• 5:47
  selected
• 5:47
  Reliance
• 5:48
  Beauty,
• 5:48
  which
• 5:48
  is
• 5:49
  a
• 5:49
  top
• 5:49
  leading
• 5:50
  companies
• 5:51
  in
• 5:51
  India.
• 5:51
  And
• 5:51
  we
• 5:52
  are
• 5:52
  going
• 5:52
  to
• 5:52
  open
• 5:52
  end
• 5:52
  of
• 5:52
  October,
• 5:53
  the
• 5:53
  first
• 5:54
  stores
• 5:54
  in
• 5:55
  India
• 5:55
  in
• 5:55
  Delhi
• 5:56
  in
• 5:56
  the
• 5:56
  Mall
• 5:56
  of
• 5:57
  India.
• 5:57
  Okay.
• 5:57
  Wow.
• 5:57
  Together
• 5:58
  with
• 5:58
  them.
• 5:58
  Wow,
• 5:58
  this
• 5:58
  is
• 5:59
  great
• 5:59
  stuff.
• 5:59
  My
• 5:59
  God,
• 6:00
  this
• 6:00
  is
• 6:00
  good.
• 6:00
  I
• 6:00
  love
• 6:01
  this.
• 6:01
  All
• 6:01
  right,
• 6:01
  well.
• 6:02
  So
• 6:02
  Simone,
• 6:03
  as
• 6:03
  you're
• 6:04
  thinking
• 6:04
  about
• 6:04
  the,
• 6:05
  the
• 6:05
  technologies,
• 6:06
  you
• 6:06
  mentioned
• 6:07
  that
• 6:07
  technology
• 6:08
  is
• 6:08
  very
• 6:08
  important
• 6:09
  as
• 6:09
  you
• 6:09
  think
• 6:09
  about
• 6:09
  the
• 6:09
  future
• 6:10
  of
• 6:10
  where
• 6:10
  the
• 6:10
  beauty
• 6:11
  industry
• 6:11
  is
• 6:11
  going.
• 6:12
  But
• 6:13
  what
• 6:13
  are
• 6:13
  those
• 6:13
  emerging
• 6:14
  technologies
• 6:15
  that
• 6:15
  you've
• 6:15
  really
• 6:15
  got
• 6:15
  your
• 6:16
  eye
• 6:16
  on
• 6:16
  that
• 6:16
  you
• 6:17
  think
• 6:17
  are
• 6:17
  going
• 6:17
  to
• 6:17
  be
• 6:17
  important
• 6:18
  both
• 6:18
  from
• 6:19
  an
• 6:19
  e
• 6:19
  commerce
• 6:20
  experience
• 6:21
  and
• 6:21
  from
• 6:21
  your
• 6:22
  stores
• 6:22
  experience
• 6:23
  as
• 6:23
  you
• 6:23
  continue
• 6:23
  your
• 6:24
  expansion
• 6:24
  into
• 6:25
  the
• 6:25
  US
• 6:25
  and
• 6:25
  India?
• 6:26
  We
• 6:26
  have
• 6:26
  invested
• 6:27
  in
• 6:28
  designing
• 6:28
  our
• 6:28
  unified
• 6:29
  Commerce
• 6:30
  model
• 6:31
  which
• 6:31
  is
• 6:32
  leveraging,
• 6:32
  as
• 6:32
  I
• 6:33
  said,
• 6:33
  data
• 6:33
  and
• 6:34
  tech
• 6:34
  to
• 6:34
  provide
• 6:35
  a
• 6:35
  personalized
• 6:36
  experience
• 6:37
  to
• 6:37
  each
• 6:37
  of
• 6:37
  our
• 6:37
  customers,
• 6:39
  connecting
• 6:40
  all
• 6:40
  the
• 6:41
  departments
• 6:42
  of
• 6:42
  our
• 6:43
  company
• 6:43
  and
• 6:44
  all
• 6:44
  the
• 6:44
  touchpoint.
• 6:45
  So
• 6:45
  we
• 6:45
  engage
• 6:46
  more
• 6:46
  than
• 6:46
  14
• 6:47
  suppliers.
• 6:47
  Some
• 6:47
  of
• 6:47
  them
• 6:48
  are
• 6:48
  here,
• 6:49
  of
• 6:49
  course,
• 6:49
  in
• 6:49
  this
• 6:50
  expo.
• 6:51
  From
• 6:51
  data
• 6:52
  analytics
• 6:53
  to
• 6:53
  customer
• 6:53
  data
• 6:54
  platforms
• 6:55
  to
• 6:55
  integrated
• 6:56
  inventory
• 6:57
  systems.
• 6:57
  In
• 6:58
  order
• 6:58
  to
• 6:58
  enable
• 6:58
  our
• 6:59
  Beauty
• 6:59
  advisor
• 7:00
  to
• 7:00
  handle
• 7:01
  the
• 7:01
  conversation
• 7:01
  with
• 7:02
  the
• 7:02
  customer
• 7:02
  using
• 7:02
  the
• 7:03
  iPhone,
• 7:03
  where
• 7:03
  you
• 7:03
  have
• 7:03
  all
• 7:04
  the
• 7:04
  inventory,
• 7:04
  the
• 7:04
  order
• 7:05
  management
• 7:05
  system,
• 7:05
  when
• 7:06
  you
• 7:06
  have
• 7:06
  the
• 7:06
  customer
• 7:06
  data,
• 7:07
  your
• 7:07
  data
• 7:07
  here,
• 7:08
  the
• 7:08
  transaction
• 7:09
  is
• 7:09
  possible
• 7:09
  with
• 7:09
  a
• 7:09
  tap
• 7:10
  to
• 7:10
  pay.
• 7:10
  So
• 7:10
  this
• 7:10
  become
• 7:11
  a
• 7:11
  store
• 7:11
  itself.
• 7:12
  Yes.
• 7:12
  In
• 7:12
  which
• 7:12
  the
• 7:13
  experience
• 7:13
  is
• 7:13
  fully
• 7:13
  done.
• 7:14
  Through
• 7:14
  the
• 7:14
  iPhone,
• 7:14
  which
• 7:15
  is
• 7:15
  very
• 7:15
  important
• 7:15
  in
• 7:16
  beauty
• 7:16
  to
• 7:16
  be
• 7:16
  able
• 7:17
  to
• 7:17
  transact
• 7:17
  right
• 7:17
  at
• 7:18
  that
• 7:18
  moment
• 7:18
  when
• 7:18
  your
• 7:19
  beauty
• 7:19
  advisor
• 7:19
  gives
• 7:20
  you
• 7:20
  the
• 7:20
  product,
• 7:21
  avoiding
• 7:21
  the.
• 7:21
  Queue
• 7:21
  at
• 7:22
  the
• 7:22
  cash
• 7:22
  desk.
• 7:22
  Yes,
• 7:23
  yes,
• 7:23
  absolutely.
• 7:24
  That's
• 7:24
  interesting.
• 7:24
  You
• 7:24
  just
• 7:25
  unlocked
• 7:25
  something
• 7:25
  for
• 7:25
  me
• 7:25
  too
• 7:25
  that
• 7:26
  I
• 7:26
  never
• 7:26
  thought
• 7:26
  about
• 7:26
  too.
• 7:27
  The
• 7:27
  beauty
• 7:27
  industry
• 7:28
  in
• 7:28
  general
• 7:28
  seems
• 7:29
  further
• 7:29
  ahead
• 7:29
  on
• 7:29
  this
• 7:30
  whole
• 7:30
  idea
• 7:30
  of
• 7:30
  omnichannel
• 7:31
  or
• 7:31
  unified
• 7:31
  commerce.
• 7:32
  And
• 7:32
  I
• 7:32
  think
• 7:32
  what
• 7:32
  it
• 7:33
  potentially
• 7:33
  comes
• 7:33
  down
• 7:33
  to
• 7:33
  is
• 7:34
  the
• 7:34
  fact
• 7:34
  that
• 7:34
  you
• 7:34
  it's
• 7:35
  such
• 7:35
  an
• 7:35
  engaged
• 7:35
  sale
• 7:36
  in
• 7:36
  the
• 7:36
  store,
• 7:36
  relatively
• 7:37
  speaking,
• 7:37
  across
• 7:38
  retail,
• 7:38
  that
• 7:39
  you
• 7:40
  have
• 7:40
  to
• 7:40
  start
• 7:40
  investing
• 7:40
  in
• 7:41
  those
• 7:41
  types
• 7:41
  of
• 7:41
  technologies.
• 7:42
  To
• 7:42
  make
• 7:42
  it
• 7:42
  happen.
• 7:42
  So
• 7:43
  I'm
• 7:43
  curious
• 7:43
  too,
• 7:43
  are
• 7:43
  there
• 7:44
  any
• 7:44
  trends
• 7:44
  or
• 7:44
  new
• 7:45
  products
• 7:45
  that
• 7:45
  you're
• 7:45
  excited
• 7:46
  about
• 7:46
  going
• 7:46
  into
• 7:46
  this
• 7:46
  year
• 7:47
  as
• 7:47
  well?
• 7:47
  I
• 7:47
  think
• 7:47
  that
• 7:48
  one
• 7:48
  of
• 7:48
  the
• 7:49
  great
• 7:50
  let's
• 7:51
  say
• 7:51
  effect
• 7:52
  of
• 7:52
  having
• 7:53
  a
• 7:54
  data
• 7:54
  driven
• 7:54
  culture
• 7:55
  in
• 7:55
  your
• 7:55
  company
• 7:56
  is
• 7:56
  that
• 7:56
  you
• 7:56
  can
• 7:56
  collect
• 7:57
  data
• 7:57
  from
• 7:57
  customers
• 7:57
  and
• 7:58
  you
• 7:58
  can
• 7:58
  really
• 7:58
  actively
• 7:59
  listen
• 7:59
  to
• 8:00
  your
• 8:00
  customers.
• 8:01
  And
• 8:01
  then
• 8:01
  for
• 8:01
  example,
• 8:02
  our
• 8:02
  marketing
• 8:03
  department
• 8:03
  also
• 8:04
  starts
• 8:05
  the
• 8:05
  innovation
• 8:05
  program
• 8:05
  by
• 8:06
  listening
• 8:06
  customers.
• 8:07
  One
• 8:07
  of
• 8:07
  the,
• 8:08
  let's
• 8:08
  say
• 8:10
  something
• 8:10
  was
• 8:10
  missing
• 8:11
  in
• 8:11
  the
• 8:11
  market
• 8:12
  and
• 8:12
  one
• 8:12
  of
• 8:12
  the
• 8:12
  key
• 8:13
  requests
• 8:13
  from
• 8:13
  our
• 8:13
  customers
• 8:14
  is
• 8:14
  to
• 8:14
  design
• 8:15
  product
• 8:15
  you
• 8:15
  can
• 8:15
  use
• 8:15
  only
• 8:16
  with
• 8:16
  one
• 8:16
  end.
• 8:17
  Imagine
• 8:17
  you
• 8:17
  are
• 8:19
  registering
• 8:19
  and
• 8:19
  recording
• 8:20
  the
• 8:20
  content
• 8:20
  through
• 8:21
  your
• 8:22
  social.
• 8:22
  You
• 8:23
  don't
• 8:23
  want
• 8:23
  to
• 8:24
  leave
• 8:24
  your
• 8:24
  iPhone
• 8:25
  to
• 8:25
  untap
• 8:26
  your
• 8:26
  lips
• 8:26
  gloss.
• 8:27
  Wow.
• 8:27
  Or
• 8:28
  you're
• 8:28
  having
• 8:28
  an
• 8:28
  interview
• 8:29
  like
• 8:29
  I'm
• 8:29
  now.
• 8:30
  Wow.
• 8:30
  You
• 8:30
  cannot
• 8:30
  do
• 8:31
  it
• 8:31
  with
• 8:31
  a,
• 8:31
  with
• 8:31
  a.
• 8:32
  We
• 8:32
  cannot
• 8:32
  unlock
• 8:33
  with
• 8:33
  one
• 8:33
  hand.
• 8:33
  That's
• 8:34
  why
• 8:34
  we
• 8:34
  designed.
• 8:35
  Our
• 8:35
  marketing
• 8:35
  team
• 8:36
  designed
• 8:36
  this
• 8:36
  new
• 8:36
  product
• 8:37
  which
• 8:37
  is
• 8:37
  a
• 8:38
  lipstick
• 8:38
  line
• 8:39
  that
• 8:39
  you
• 8:39
  can
• 8:39
  use
• 8:39
  with
• 8:40
  one
• 8:40
  end.
• 8:40
  It's
• 8:41
  a
• 8:41
  specific
• 8:41
  technology,
• 8:42
  comes
• 8:42
  in
• 8:42
  12
• 8:43
  shades.
• 8:43
  12
• 8:45
  I
• 8:45
  will
• 8:45
  apply
• 8:46
  to
• 8:46
  you
• 8:46
  later
• 8:46
  on.
• 8:46
  Okay.
• 8:47
  Yes.
• 8:47
  Thank
• 8:47
  you.
• 8:47
  Yes.
• 8:48
  Can't
• 8:48
  wait.
• 8:48
  And
• 8:48
  this
• 8:49
  you
• 8:49
  can
• 8:49
  use
• 8:49
  with
• 8:50
  one
• 8:50
  end
• 8:50
  so
• 8:50
  you
• 8:50
  can
• 8:51
  keep
• 8:51
  recording
• 8:51
  your
• 8:51
  content.
• 8:52
  You,
• 8:52
  you
• 8:52
  can
• 8:52
  look
• 8:52
  at
• 8:52
  the
• 8:53
  mirror.
• 8:53
  If
• 8:53
  you
• 8:53
  have
• 8:53
  a
• 8:53
  mobile,
• 8:54
  you
• 8:54
  can
• 8:54
  have
• 8:54
  an
• 8:54
  interview
• 8:55
  as
• 8:55
  well.
• 8:55
  So
• 8:55
  interesting.
• 8:56
  With
• 8:56
  one
• 8:56
  hand.
• 8:57
  Think
• 8:57
  how
• 8:57
  many
• 8:57
  things
• 8:58
  you
• 8:58
  can
• 8:58
  do
• 8:58
  with
• 8:59
  one
• 8:59
  hand
• 9:00
  liberated.
• 9:01
  You
• 9:01
  don't
• 9:01
  have
• 9:01
  to
• 9:01
  use
• 9:01
  two
• 9:02
  hands
• 9:02
  to
• 9:02
  open
• 9:02
  your
• 9:02
  products.
• 9:03
  So
• 9:03
  this
• 9:04
  is
• 9:04
  a
• 9:04
  kind
• 9:04
  of
• 9:04
  innovation
• 9:05
  that
• 9:05
  starts
• 9:05
  by
• 9:05
  listening
• 9:06
  to
• 9:06
  the
• 9:06
  customers
• 9:07
  that
• 9:07
  were
• 9:07
  craving
• 9:07
  for
• 9:08
  it
• 9:08
  for
• 9:08
  asking
• 9:09
  for
• 9:09
  something
• 9:09
  that
• 9:09
  liberating
• 9:10
  one
• 9:10
  ends
• 9:11
  possible
• 9:11
  to
• 9:11
  use
• 9:11
  the
• 9:11
  one
• 9:12
  and
• 9:12
  only.
• 9:12
  And
• 9:12
  it
• 9:12
  took
• 9:12
  a
• 9:13
  lot
• 9:13
  of
• 9:13
  technology
• 9:14
  as
• 9:14
  you
• 9:14
  can.
• 9:14
  It
• 9:15
  sounds
• 9:15
  very
• 9:15
  easy.
• 9:15
  That's
• 9:16
  good.
• 9:16
  When
• 9:16
  technology
• 9:17
  the
• 9:17
  more
• 9:18
  it
• 9:18
  seems
• 9:18
  easy
• 9:19
  and
• 9:19
  facilitated
• 9:20
  people
• 9:20
  life,
• 9:20
  the
• 9:20
  more
• 9:21
  it's
• 9:21
  complicated
• 9:21
  to
• 9:21
  design.
• 9:22
  Right.
• 9:22
  So
• 9:23
  I'm
• 9:23
  very
• 9:23
  excited
• 9:24
  to
• 9:24
  ask
• 9:24
  my
• 9:24
  next
• 9:25
  question
• 9:25
  then
• 9:26
  which
• 9:26
  is
• 9:26
  where
• 9:27
  do
• 9:27
  you
• 9:27
  see
• 9:28
  what
• 9:28
  other
• 9:28
  technology
• 9:29
  or
• 9:29
  what
• 9:29
  changes
• 9:30
  do
• 9:30
  you
• 9:30
  see
• 9:30
  happening
• 9:31
  in
• 9:31
  the
• 9:31
  beauty
• 9:32
  industry
• 9:32
  now
• 9:33
  that
• 9:33
  you
• 9:33
  know,
• 9:34
  you
• 9:34
  think
• 9:34
  will
• 9:35
  contribute
• 9:36
  to
• 9:36
  more
• 9:36
  products
• 9:36
  like
• 9:37
  this
• 9:37
  being
• 9:37
  different
• 9:38
  in
• 9:38
  the
• 9:38
  next
• 9:39
  five
• 9:39
  years.
• 9:39
  Like
• 9:39
  what
• 9:40
  other
• 9:40
  things?
• 9:40
  What
• 9:40
  other
• 9:41
  enhancements?
• 9:41
  I
• 9:42
  think
• 9:42
  all
• 9:42
  these
• 9:43
  boots
• 9:43
  that
• 9:44
  you
• 9:44
  see
• 9:44
  around
• 9:44
  you
• 9:44
  and
• 9:45
  these
• 9:45
  are
• 9:45
  beautiful
• 9:45
  expo.
• 9:47
  The
• 9:47
  major
• 9:47
  reason
• 9:48
  for
• 9:48
  them
• 9:48
  to
• 9:48
  exist
• 9:49
  is
• 9:49
  to
• 9:49
  provide
• 9:50
  always
• 9:50
  a
• 9:51
  better
• 9:51
  experience
• 9:51
  to
• 9:52
  your
• 9:52
  customers
• 9:53
  and
• 9:54
  then
• 9:54
  by
• 9:55
  keep
• 9:56
  listening
• 9:56
  to
• 9:56
  them
• 9:57
  through
• 9:57
  all
• 9:57
  the
• 9:57
  different
• 9:57
  source
• 9:58
  but
• 9:58
  also
• 9:59
  shortening
• 10:00
  the
• 10:00
  time
• 10:00
  of
• 10:00
  developing
• 10:01
  new
• 10:01
  products.
• 10:01
  So
• 10:02
  the
• 10:02
  ultimate
• 10:03
  challenge
• 10:03
  for
• 10:03
  us
• 10:04
  will
• 10:04
  be
• 10:04
  not
• 10:05
  to
• 10:05
  have
• 10:06
  18,
• 10:06
  24
• 10:07
  months
• 10:07
  to
• 10:07
  develop
• 10:07
  new
• 10:08
  products,
• 10:08
  but
• 10:08
  to
• 10:09
  have
• 10:09
  12
• 10:09
  months,
• 10:10
  9
• 10:10
  months,
• 10:11
  6
• 10:11
  months
• 10:11
  to
• 10:11
  develop
• 10:12
  new
• 10:12
  products.
• 10:12
  That
• 10:13
  is
• 10:13
  the
• 10:13
  ultimate
• 10:14
  challenge.
• 10:15
  For
• 10:15
  beauty
• 10:15
  and
• 10:15
  where
• 10:16
  technology
• 10:17
  can
• 10:17
  really
• 10:17
  help
• 10:18
  in
• 10:18
  understanding
• 10:19
  what
• 10:19
  is
• 10:19
  needed
• 10:19
  in
• 10:19
  the
• 10:20
  market.
• 10:20
  It's
• 10:20
  already
• 10:20
  an
• 10:21
  overcrowded
• 10:21
  market.
• 10:21
  So
• 10:22
  you
• 10:22
  really.
• 10:22
  To
• 10:22
  understand
• 10:23
  what
• 10:23
  is
• 10:23
  needed
• 10:23
  in
• 10:23
  the
• 10:23
  market
• 10:24
  in
• 10:24
  a
• 10:24
  very
• 10:24
  overcrowded
• 10:25
  market,
• 10:25
  you
• 10:26
  need
• 10:26
  to
• 10:26
  be
• 10:26
  very
• 10:27
  curious
• 10:29
  and
• 10:29
  convert
• 10:30
  information
• 10:30
  from
• 10:31
  the
• 10:31
  market
• 10:31
  in
• 10:31
  insights.
• 10:32
  Right.
• 10:32
  Once
• 10:33
  you
• 10:33
  have
• 10:33
  the
• 10:33
  insight,
• 10:34
  your
• 10:34
  scientific
• 10:35
  and
• 10:35
  marketing
• 10:36
  department,
• 10:36
  they
• 10:36
  need
• 10:36
  to
• 10:36
  be
• 10:37
  fast
• 10:37
  in
• 10:38
  designing
• 10:38
  something.
• 10:39
  That's
• 10:39
  when
• 10:39
  time
• 10:40
  to
• 10:40
  market
• 10:40
  become
• 10:40
  more
• 10:40
  and
• 10:41
  more
• 10:41
  important.
• 10:41
  And
• 10:42
  are
• 10:42
  you
• 10:42
  using
• 10:42
  any
• 10:43
  tools
• 10:43
  like
• 10:44
  AI
• 10:44
  in
• 10:45
  the
• 10:45
  develop,
• 10:46
  like
• 10:46
  in
• 10:46
  speeding
• 10:47
  up
• 10:47
  that
• 10:47
  development
• 10:48
  of
• 10:48
  those
• 10:48
  products?
• 10:49
  At
• 10:49
  the
• 10:49
  moment,
• 10:49
  we
• 10:49
  use
• 10:50
  AI
• 10:50
  mainly
• 10:51
  in
• 10:51
  two
• 10:51
  areas.
• 10:51
  Okay.
• 10:52
  One
• 10:53
  is
• 10:53
  to
• 10:54
  analyze
• 10:54
  the
• 10:55
  price
• 10:55
  elasticity.
• 10:56
  So
• 10:56
  every
• 10:56
  time
• 10:56
  you
• 10:57
  will
• 10:57
  launch
• 10:57
  a
• 10:57
  new
• 10:57
  product
• 10:57
  and
• 10:58
  we
• 10:58
  launch,
• 10:58
  As
• 10:58
  I
• 10:58
  said,
• 10:59
  450
• 10:59
  products.
• 11:00
  So
• 11:00
  we
• 11:00
  price
• 11:01
  450
• 11:01
  products.
• 11:02
  So
• 11:03
  we
• 11:03
  have
• 11:03
  an
• 11:03
  analytic
• 11:05
  AI
• 11:06
  systems
• 11:07
  that
• 11:07
  based
• 11:07
  on
• 11:08
  the
• 11:08
  past
• 11:09
  behaviors
• 11:09
  of
• 11:09
  our
• 11:10
  customers,
• 11:10
  understand
• 11:11
  the
• 11:11
  price
• 11:11
  elasticity
• 11:12
  of
• 11:12
  the
• 11:12
  product
• 11:12
  we
• 11:13
  are
• 11:13
  going
• 11:13
  to
• 11:13
  launch.
• 11:13
  So
• 11:14
  we
• 11:14
  are
• 11:14
  precise
• 11:14
  in
• 11:15
  pricing.
• 11:15
  The
• 11:15
  second
• 11:16
  one
• 11:16
  is
• 11:16
  forecast
• 11:16
  accuracy.
• 11:17
  Because
• 11:18
  we
• 11:18
  sell
• 11:18
  more
• 11:19
  than
• 11:19
  150
• 11:20
  million
• 11:20
  products
• 11:20
  in
• 11:21
  these
• 11:21
  73
• 11:21
  countries
• 11:22
  where
• 11:22
  we
• 11:22
  operate
• 11:22
  with
• 11:23
  1,350
• 11:24
  stores.
• 11:25
  So
• 11:25
  we
• 11:25
  need
• 11:25
  to
• 11:26
  be
• 11:26
  accurate
• 11:26
  in
• 11:27
  filling
• 11:27
  and
• 11:28
  fulfilling
• 11:28
  our
• 11:28
  supply
• 11:29
  chain.
• 11:29
  And
• 11:30
  forecast
• 11:31
  accuracy
• 11:31
  means
• 11:31
  that
• 11:31
  the
• 11:32
  stores
• 11:32
  which
• 11:32
  is
• 11:32
  sitting
• 11:33
  in
• 11:33
  Kuwait
• 11:33
  has
• 11:33
  got
• 11:34
  a
• 11:34
  different
• 11:34
  needs
• 11:34
  than
• 11:34
  the
• 11:34
  one
• 11:35
  in
• 11:35
  Malaga,
• 11:35
  than
• 11:35
  the
• 11:36
  one
• 11:36
  in.
• 11:36
  In
• 11:38
  the
• 11:38
  Philippines,
• 11:38
  in
• 11:39
  Manila.
• 11:39
  So
• 11:40
  AI
• 11:40
  is
• 11:41
  used
• 11:41
  to
• 11:42
  really
• 11:42
  predict
• 11:43
  as
• 11:44
  accurate
• 11:45
  as
• 11:45
  possible
• 11:46
  what
• 11:46
  is
• 11:46
  needed
• 11:46
  in
• 11:47
  this
• 11:47
  specific
• 11:47
  store.
• 11:47
  Okay.
• 11:48
  Yeah,
• 11:48
  that
• 11:48
  makes
• 11:48
  sense.
• 11:49
  When
• 11:49
  you
• 11:49
  have
• 11:49
  more
• 11:49
  SKUs
• 11:49
  too,
• 11:50
  there's
• 11:50
  more
• 11:50
  variability
• 11:50
  in
• 11:51
  the
• 11:51
  sales
• 11:51
  performance
• 11:51
  per
• 11:52
  SKU,
• 11:52
  which
• 11:52
  always
• 11:52
  creates
• 11:53
  a
• 11:53
  dynamic.
• 11:53
  Sometimes
• 11:54
  the
• 11:54
  product
• 11:54
  surprise
• 11:54
  you.
• 11:55
  Sometimes
• 11:55
  a
• 11:55
  product
• 11:56
  that
• 11:56
  was
• 11:56
  not
• 11:56
  meant
• 11:57
  to
• 11:57
  become
• 11:58
  a
• 11:58
  bestseller
• 11:59
  surprise
• 11:59
  you
• 11:59
  become
• 11:59
  a
• 12:00
  bestseller.
• 12:00
  So
• 12:01
  you
• 12:01
  need.
• 12:01
  That's
• 12:01
  why
• 12:01
  the
• 12:01
  time
• 12:02
  to
• 12:02
  market
• 12:03
  and
• 12:03
  the
• 12:03
  speed
• 12:03
  and
• 12:03
  velocity
• 12:04
  in
• 12:04
  replenish
• 12:05
  becomes
• 12:05
  very,
• 12:05
  very
• 12:05
  important.
• 12:06
  Right.
• 12:07
  So
• 12:07
  let's
• 12:07
  get
• 12:07
  you
• 12:07
  out
• 12:07
  of
• 12:07
  here
• 12:08
  on
• 12:08
  this.
• 12:08
  Whenever
• 12:08
  we
• 12:08
  have
• 12:08
  a
• 12:08
  CEO
• 12:09
  on
• 12:10
  the
• 12:10
  show
• 12:10
  with
• 12:10
  us,
• 12:11
  we
• 12:12
  always
• 12:12
  like
• 12:12
  to
• 12:12
  learn
• 12:12
  as
• 12:12
  much
• 12:12
  as
• 12:13
  we
• 12:13
  can
• 12:13
  from
• 12:13
  them.
• 12:14
  And
• 12:14
  so
• 12:14
  my
• 12:15
  question
• 12:15
  for
• 12:15
  you
• 12:15
  to
• 12:15
  close
• 12:16
  is,
• 12:16
  you
• 12:16
  know,
• 12:16
  you've
• 12:17
  been
• 12:17
  in
• 12:17
  role
• 12:17
  about
• 12:17
  three
• 12:17
  years.
• 12:18
  What
• 12:19
  do
• 12:19
  you
• 12:19
  wish
• 12:19
  you
• 12:19
  knew
• 12:20
  then
• 12:20
  when
• 12:20
  you
• 12:21
  took
• 12:21
  the
• 12:21
  role
• 12:21
  that
• 12:21
  you
• 12:21
  knew?
• 12:22
  Now?
• 12:24
  That's
• 12:25
  a
• 12:25
  very
• 12:25
  good
• 12:25
  question.
• 12:25
  I've
• 12:26
  been
• 12:26
  here
• 12:27
  three
• 12:27
  and
• 12:27
  a
• 12:28
  half
• 12:28
  years,
• 12:28
  three
• 12:28
  and
• 12:28
  a
• 12:28
  half
• 12:28
  years,
• 12:29
  four
• 12:29
  years.
• 12:30
  I
• 12:30
  think
• 12:31
  I
• 12:31
  could
• 12:31
  dare
• 12:32
  a
• 12:32
  little
• 12:32
  bit
• 12:32
  more.
• 12:33
  Really.
• 12:34
  I
• 12:34
  think
• 12:34
  I
• 12:35
  was
• 12:35
  prudent
• 12:36
  in
• 12:36
  some
• 12:37
  acceleration
• 12:38
  of
• 12:38
  the
• 12:38
  business
• 12:39
  in
• 12:39
  some
• 12:39
  countries,
• 12:39
  in
• 12:40
  some
• 12:40
  categories.
• 12:40
  Take
• 12:40
  for
• 12:40
  example
• 12:41
  skincare.
• 12:42
  Skincare
• 12:42
  moved
• 12:43
  from
• 12:43
  5%
• 12:43
  of
• 12:44
  our
• 12:44
  assortment
• 12:44
  to
• 12:45
  11%
• 12:45
  of
• 12:45
  our
• 12:45
  assortment.
• 12:46
  Sure.
• 12:47
  Can
• 12:47
  become
• 12:47
  20%
• 12:48
  in
• 12:48
  the
• 12:48
  market.
• 12:48
  Skincare
• 12:49
  is
• 12:49
  more
• 12:49
  than
• 12:49
  30%
• 12:50
  of
• 12:50
  our
• 12:50
  assortment.
• 12:51
  And
• 12:52
  think
• 12:52
  about
• 12:52
  for
• 12:52
  example,
• 12:53
  face
• 12:53
  complexion,
• 12:54
  which
• 12:54
  is
• 12:54
  close
• 12:55
  to
• 12:55
  the
• 12:55
  skin
• 12:55
  care
• 12:56
  for
• 12:56
  US
• 12:56
  is
• 12:57
  only
• 12:57
  20%
• 12:58
  in
• 12:58
  the
• 12:58
  market
• 12:58
  is
• 12:58
  30%.
• 13:00
  I
• 13:01
  think
• 13:01
  we
• 13:01
  could
• 13:01
  have
• 13:01
  dared
• 13:02
  more
• 13:02
  to
• 13:02
  bring
• 13:04
  top
• 13:04
  innovation,
• 13:05
  relevant
• 13:06
  innovation
• 13:06
  in
• 13:06
  a
• 13:07
  distinctive
• 13:07
  way
• 13:08
  and
• 13:08
  we
• 13:08
  could
• 13:08
  have
• 13:08
  accelerated
• 13:09
  even
• 13:09
  further.
• 13:09
  Even
• 13:10
  if
• 13:10
  we
• 13:10
  doubled
• 13:10
  the
• 13:11
  size
• 13:11
  of
• 13:11
  the
• 13:11
  business
• 13:11
  of
• 13:11
  Kiko
• 13:12
  in
• 13:12
  the
• 13:12
  last
• 13:12
  three
• 13:12
  and
• 13:12
  a
• 13:12
  half
• 13:13
  years,
• 13:13
  I
• 13:14
  believe
• 13:14
  we
• 13:14
  could
• 13:14
  have
• 13:14
  done
• 13:15
  even
• 13:15
  more.
• 13:16
  Wow.
• 13:16
  Wow.
• 13:16
  So
• 13:17
  that's
• 13:17
  interesting.
• 13:17
  So
• 13:17
  you
• 13:17
  think
• 13:17
  you
• 13:17
  could
• 13:17
  have
• 13:18
  gone
• 13:18
  faster?
• 13:18
  Yeah,
• 13:19
  I
• 13:19
  think
• 13:19
  so.
• 13:19
  That's
• 13:20
  an
• 13:20
  interesting
• 13:20
  challenge
• 13:21
  for
• 13:21
  a
• 13:21
  new
• 13:21
  CEO
• 13:22
  from
• 13:22
  outside
• 13:22
  the
• 13:22
  company
• 13:23
  too.
• 13:23
  Right?
• 13:23
  Because
• 13:24
  you
• 13:24
  can
• 13:24
  also
• 13:24
  go
• 13:25
  too
• 13:25
  fast.
• 13:25
  So.
• 13:26
  So
• 13:26
  how
• 13:26
  do
• 13:26
  you
• 13:26
  think
• 13:26
  you
• 13:27
  would
• 13:27
  have
• 13:27
  done
• 13:27
  that?
• 13:27
  I'm
• 13:27
  curious.
• 13:28
  I
• 13:29
  think
• 13:29
  I
• 13:29
  could
• 13:29
  have
• 13:29
  invested
• 13:30
  more
• 13:31
  in
• 13:31
  deploying
• 13:32
  some
• 13:33
  of
• 13:33
  our
• 13:33
  innovation
• 13:34
  on
• 13:34
  a
• 13:34
  full
• 13:34
  speed.
• 13:35
  I
• 13:35
  think
• 13:36
  the
• 13:36
  risk
• 13:36
  when
• 13:36
  you
• 13:37
  have
• 13:37
  so
• 13:37
  many
• 13:37
  innovation
• 13:37
  that
• 13:38
  you
• 13:38
  don't
• 13:38
  curate
• 13:38
  each
• 13:39
  innovation
• 13:39
  properly
• 13:40
  and
• 13:40
  then
• 13:41
  you
• 13:41
  don't
• 13:41
  give
• 13:41
  enough
• 13:41
  focus
• 13:42
  to
• 13:42
  a
• 13:42
  specific
• 13:43
  innovation.
• 13:43
  That's
• 13:43
  why
• 13:44
  now
• 13:44
  we
• 13:44
  are
• 13:44
  limiting
• 13:44
  the
• 13:45
  number
• 13:45
  of
• 13:45
  innovation.
• 13:47
  Rather
• 13:47
  than
• 13:47
  having
• 13:48
  so
• 13:48
  many
• 13:48
  proliferation
• 13:49
  of
• 13:50
  new
• 13:50
  products,
• 13:50
  we
• 13:50
  are
• 13:50
  limited.
• 13:51
  And
• 13:51
  once
• 13:51
  we
• 13:52
  launch
• 13:52
  something
• 13:52
  innovative
• 13:53
  like
• 13:53
  this,
• 13:54
  we
• 13:54
  focus
• 13:54
  on
• 13:54
  making
• 13:54
  it
• 13:55
  big.
• 13:55
  You
• 13:55
  go
• 13:55
  big.
• 13:57
  Got
• 13:57
  it.
• 13:57
  Got
• 13:57
  it.
• 13:58
  Wow.
• 13:58
  This
• 13:58
  is
• 13:58
  great.
• 13:59
  Anne.
• 13:59
  Yeah,
• 14:01
  this
• 14:01
  is
• 14:01
  a
• 14:02
  all
• 14:02
  timer
• 14:02
  for
• 14:02
  me.
• 14:02
  This
• 14:03
  is
• 14:03
  a
• 14:03
  great
• 14:03
  conversation.
• 14:04
  Thank
• 14:04
  you
• 14:04
  so
• 14:04
  much.
• 14:04
  Thank
• 14:05
  you
• 14:05
  to
• 14:05
  you.
• 14:05
  I'm
• 14:05
  gonna
• 14:05
  be
• 14:06
  running
• 14:06
  to
• 14:06
  get
• 14:06
  my
• 14:06
  hands
• 14:07
  on
• 14:07
  one
• 14:07
  of
• 14:07
  those
• 14:07
  lipsticks
• 14:08
  that
• 14:08
  I
• 14:08
  can
• 14:08
  use.
• 14:09
  Not
• 14:10
  just
• 14:10
  one
• 14:10
  hand,
• 14:13
  just
• 14:13
  get
• 14:13
  one
• 14:13
  hand
• 14:13
  on
• 14:14
  that
• 14:14
  lips.
• 14:14
  Enjoy
• 14:14
  the
• 14:14
  rest
• 14:15
  of
• 14:15
  the
• 14:15
  day.
• 14:15
  We
• 14:15
  will.
• 14:16
  We
• 14:16
  will.
• 14:16
  Thank
• 14:17
  you
• 14:17
  so
• 14:17
  much.
• 14:17
  Thank
• 14:17
  you
• 14:17
  so
• 14:18
  much.
• 14:18
  And
• 14:18
  thank
• 14:18
  you
• 14:18
  to
• 14:18
  the
• 14:19
  Fusion
• 14:19
  group
• 14:19
  for
• 14:19
  supporting
• 14:20
  our
• 14:20
  coverage
• 14:20
  here
• 14:20
  at
• 14:20
  the
• 14:21
  show.
• 14:21
  And
• 14:21
  as
• 14:21
  always,
• 14:22
  Anne,
• 14:22
  be
• 14:22
  careful
• 14:23
  out
• 14:23
  there.