Exec: Expect $1.5B in sales in Europe over the long term - conf call
- Believe that Europe is the center of luxury brands
- Expect to open 50 more stores in Europe this year
- See the European market as "a very exciting piece of long term growth strategies"
- Expect $300M in long term Japan business
- Will open a 2nd flagship store in Japan in 1H FY15
- Will be taking South Korea business in-house from its current partner, Simone FC, by the early part of calendar 2016
- No expectation that the South Korean business will be immediately accretive to earnings
- North American market saw slower traffic than anticipated, similar to trend amongst competitors
- Moving offices from Hong Kong to London; all future annual meeting will be held in London