Slide 1: Introducing Piquadro
LINEA BUSINESS INTRODUCING PIQUADRO
Slide 2: Piquadro born in Bologna, only 14 years ago
LINEA BUSINESS Piquadro born in Bologna, only .14 years ago! Piquadro_ New Head Office built in 2006
Slide 3: Piquadro: Unique Positioning
LINEA BUSINESS PIQUADRO: UNIQUE POSITIONING Innovative Italian leather brand. Business-friendly accessories. Designed to make busy life stressless! Piquadro = P² with the P standing for both Palmieri and pelletterie (leather goods in Italian) Piquadro_ The Piquadro brand identity Marco Palmieri, Piq
Slide 4: The Brand DNA
LINEA BUSINESS THE BRAND DNA Piquadro was founded on the principle that your most valuable tech accessories need the finest hand crafted leather bags to transport them safely and in style. Since 1998, this unique blend of technology, prime Tuscany leather hide and clever organization has made Piquad
Slide 5: Piquadro Core Values: 1. Innovative Design
LINEA BUSINESS PIQUADRO CORE VALUES: 1. INNOVATIVE DESIGN Piquadro_
Slide 6: Piquadro Core Values: 2. Italian Styling
LINEA BUSINESS PIQUADRO CORE VALUES: 2. ITALIAN STYLING Piquadro_
Slide 7: Piquadro Core Values: 3. Business Friendly Organization
LINEA BUSINESS PIQUADRO CORE VALUES: 3. BUSINESS FRIENDLY ORGANIZATION Piquadro_
Slide 8: Piquadro Core Values: 4. Vibrant Color Palette
LINEA BUSINESS PIQUADRO CORE VALUES: 4. VIBRANT COLOR PALETTE Piquadro_
Slide 9: Piquadro Core Consumers
LINEA BUSINESS PIQUADRO CORE CONSUMERS: •Young professionals men (80%) and women (20%) •Medium-upper social classes •Well educated • Design forward mindset •‘Citizens of the world’ •Always ‘on the go’: commuters, frequent flyers •Tech savvy •Rational: value for money Piquadro_
Slide 10: Product Strategy
LINEA BUSINESS PRODUCT STRATEGY MIX OF ON-GOING & SEASONAL COLLECTIONS Complementary and extensive product offering, including professional bags, travel items, women’s bags, small leather goods and other accessories. On-Going Collections (70% of turnover): long life-cycle (4/5 years and more). Seaso
Slide 11: A Well Balanced Assortment
LINEA BUSINESS A WELL BALANCED ASSORTMENT DISTRIBUTION COMPANY SALES BY PRODUCT CATEGORY (IN VALUE) Business bags 24% Day bags 14% Small leather goods 19% Women’s bags 22% Luggage 12% Other accessories 10% Piquadro_
Slide 12: Product Architecture/Pricing
LINEA BUSINESS PRODUCT ARCHITECTURE/PRICING BRIEFCASE DAY BAG S.L.G. € 600-840 € 630-660 N.A. SARTORIA MODUS € 315-545 € 115-265€ 55-140 BLUE SQUARE JAZZ € 240-345 € 99-250 € 55-130 VIBE LINK 4 Piquadro_ Above prices are Europe Suggested Retail Prices
Slide 13: Piquadro: A Premium Accessories Brand
LINEA BUSINESS PIQUADRO: A PREMIUM ACCESSORIES BRAND Luxury Travel Lifestyle Piquadro_ Mid-end
Slide 14: Piquadro Awareness and Desirability
LINEA BUSINESS PIQUADRO AWARENESS AND DESIRABILITY* KNOWN OWNED DESIRED LOUIS VUITTON SAMSONITE LOUIS VUITTON SAMSONITE LOUIS VUITTON SAMSONITE MANDARINA DUCK PRADA GUCCI GUCCI PIQUADRO PIQUADRO PIQUADRO GUCCI PRADA PRADA MANDARINA DUCK HERMES FURLA FURLA MANDARINA DUCK CARTIER COCCINELLE BOTTEGA VE
Slide 15: Research & Development
LINEA BUSINESS RESEARCH & DEVELOPMENT ITALIAN DESIGN All Piquadro products are the fruit of a careful design phase. Even the tiniest detail is studied and designed so that the end result will be a design product with a well-defined identity. An in-house team of Italian designers, who know and interp
Slide 16: Quintessential Quality
LINEA BUSINESS QUINTESSENTIAL QUALITY The quality of the selected hide, together with the design, is a distinctive element of each Piquadro product. Piquadro has proudly built a long lasting relationship with the best Italian tanneries over the past 14 years, all being located within a short distanc
Slide 17: International Multi-Channel Distribution
INTERNATIONAL MULTI-CHANNEL DISTRIBUTION Presence in approx. 50 countries with strategic mix of DOS and Wholesale channel. Growing mono-brand network, counting today 92 Stores (48 DOS, and 44 franchised) worldwide. Approx. more than one third of the net sales comes from single- brand stores (DOS and
Slide 18: Retail Distribution: DOS
LINEA BUSINESS RETAIL DISTRIBUTION DOS Milano, Via Della Spiga Paris, Rue Saint-Honorè Milano, Linate Airport Barcelona, Spain Paseo de Gracia 11 Milano, Malpensa Airport T1 Barcelona, Spain outlet La Roca Milano, Malpensa Airport TN Barcelona, Spain ECI Plaza Cataluna Milano, via Dante 9 Mendrisio
Slide 19: Retail Distribution: Franchising
LINEA BUSINESS RETAIL DISTRIBUTION FRANCHISING Madrid, Airport Barajas Roma, Viale Europa 1 Torino, Sh. Mall “Le Gru” Grugliasco Mosca, Russia MEGA Shp Mall Roma, Via Salaria 110 Modena, Sh. Mall "Grande Emilia” Mosca, Russia Sokolniki Shp Mall Roma, Viale Marconi 6 Busnago (MI), Sh. Mall "Il Globo“
Slide 20: Next: Marras Capsule Collection
LINEA BUSINESS NEXT MARRAS CAPSULE COLLECTION World famous designer Antonio Marras currently designing Piquadro first capsule collection, A collection of 10 unisex bags presented to the press and to the trade in January 2013, at the Milan Men’s Fashion Week, More such collections to come in the seas
Slide 21: Next: Become a Global Retailer
LINEA BUSINESS NEXT BECOME A GLOBAL RETAILER! Open Flagship stores in first tier International cities: Paris, London, Dubai, Shanghai, Beijing, Tokyo, ... and major airports Three major initiatives: > Madrid T1 airport (opened 8/12) > Paris Saint Honoré (opened feb 13) > Bejing China World Mall (due
Slide 22: Next: New Store Design Underway
LINEA BUSINESS NEXT NEW STORE DESIGN UNDERWAY Full revamping of the Piquadro store design with the twofold goal of (1) creating a powerful/highly distinctive retail concept, and (2) maximizing sales productivity. Due date: June 2013 Piquadro_The Piquadro brand identity
Slide 23: The New Milan Showroom
LINEA BUSINESS THE NEW MILAN SHOWROOM 500 square meters of showroom and office space, Opened in Sept 2012, Conveniently located in the heart of the Milan fashion district: 5 Piazza San Babila Grand opening during the Jan. 2013 Milan Fashion Week, Home of the Piquadro International team. Piquadro_The
Slide 24: Piquadro Steady Sales/Profit Growth Since 1998
LINEA BUSINESS PIQUADRO STEADY SALES/PROFIT GROWTH SINCE 1998 Listing on the Milan Stock Exchange € 61,8 ml € 64,4 ml Launch of the € 51,7 ml € 52,2 ml Piquadro € 46,0 ml brand € 35,7 ml € 25 ml €19 ml € 13 ml € 16 ml € 5 ml € 6 ml € 8 ml € 10 ml 3,1 5,3 6,4 7,5 7,1 9,1 7,8 Piquadro_ Financial highl
Slide 25: Income Statement
LINEA BUSINESS INCOME STATEMENT FY Ending March 31 (€m) 2010A 2011A 2012A Net Sales 52.2 61.8 64.4 % growth +1,0% +18,4% +4,3% Other revenues 0.8 1.4 0.7 Material costs (8.4) (9.3) (10.4) Service costs (22.5) (27.8) (28.3) Personnel costs (8.0) (9.3) (11.5) Other operating expenses (0.3) (0.3) (0.7)
Slide 26: Summary Balance Sheet
LINEA BUSINESS SUMMARY BALANCE SHEET FY Ending March 31 (€m) 2010A 2011A 2012A Net Working Capital 13.9 16.1 20.3 Net Tangible Assets 11.5 12.1 12.1 Net Intangible Assets 0.6 0.8 1.5 Net Financial Assets 1.6 2.2 2.4 Several Staff, Provisions & Others (1.4) (1.6) (1.4) Net Capital Employed 26.3 29.6
Slide 27: Income Statement 9M 2012/2013
LINEA BUSINESS INCOME STATEMENT 9M 2012/2013 9M Ending Decemebr 31 (€m) 2011A 2012A Net Sales 46.2 40.5 % growth (12.3%) Other revenues 0.5 0.6 Material costs (5.9) (6.8) Service costs (21.4) (18.2) Personnel costs (8.5) (9.2) Other operating expenses (0.4) (0.4) EBITDA 10.5 6.5 Margin (% of net sal
Slide 28: Summary Balance Sheet 9M 2012/2013
LINEA BUSINESS SUMMARY BALANCE SHEET 9M 2012/2013 9M Ending December 31 (€m) 2011A 2012A Net Working Capital 23.6 24.6 Net Tangible Assets 12.5 12.3 Net Intangible Assets 1.7 4.1 Net Financial Assets 2.3 2.4 Several Staff, Provisions & Others (1.5) (1.4) Net Capital Employed 38.6 42.0 Group Sharehol
Slide 29: Lean Capital Structure
LINEA BUSINESS LEAN CAPITAL STRUCTURE Net Debt/ Equity (as of March,31) NET FINANCIAL DEBT 0,1 (€m) As of March 31 As of December 31 20,9 25,9 28,8 2010A 2011A 2012A 2011A 2012A 5,3 Short-term Net Debt 3.3 4.7 12.7 11.1 10.9 3,7 6,2 Long-term Net Debt 11.3 9.7 6.3 6.9 17,8 2009/10A 2010/11A Cash & C
Slide 30: Cash Generative Business Model
LINEA BUSINESS CASH GENERATIVE BUSINESS MODEL Cash Conversion(1) The Company has high conversion of EBITDA into 11,3% operating cash flow: 15,6% 32,6% • Limited Capex requirement 16,0% 93,1% • Efficient working capital 22,9% management 68,4% 44,5% March 12 performance affected -4,3% by increase in N
Slide 31: The Investment Values
LINEA BUSINESS THE INVESTMENT VALUES Net Profit generated in the last 3 years* 22.1 mln € Dividends paid in the last 3 years equal to 12.0 mln € Investments effected in the last 3 years* equal to 10.8 mln € Net Debt increased in the last 3 years* by 3.9 mln € *Based on rolling 12M ending December 20
Slide 32: Piquadro Listed on the Milan Stock Exchange Since 2007
LINEA BUSINESS PIQUADRO LISTED ON THE MILAN STOCK EXCHANGE SINCE 2007 Market: 21,2% Cattolica Partecipazioni 2.0% Mediobanca: 6.3% Fidelity: 2.1% Marco Palmieri: 68.4% Piquadro_ Financial highlights