HPa_e +0age +0 DCF and valuation pIndustry oaramevervieterws Luxury goods market by geography and channel Global luxury goods Title for section G Global luxury goods market H X Sales of industry players are expected to grow at a healthy rate, led by double-digit annual growth rate for ) 2 DmWpmejly _comge tgdo ts dhee tehanird _d edjgitoioln o` Zf Ey nYa’s alignnnaulialy al nd Zy je_ign *()-=! ?lgZal pejsgnal lmpmjy _ggds eajcel$ Zy c`annel and ^gjeal *()-=! Financial Factbook for the luxury and cosmetics L’Occitane and Natura from FY11A to FY14E. Europe Americas Mainland China Rest of world Japan X sector. Lhe >actbooc combines financial Increased demand through innovative products will cater to underserved emerging markets. 15% X data, insight from EY’s global team of sector Introduction of eco-friendly, sustainable and naturally derived beauty products and cosmetics will stimulate specialists and opinions of external experts. demand in established geographies. 10% 9% 9% 5% 5% 5% 3% Retail Wholesale th Titles for charts 34% 66% w 0% o E gr 0% Online 5 7% 1 Monobrand 0 -2% Off-price Airport 2 -5% Concession stores Off-price 11% stores -5% business 27% stores 18% 18% Online 1% -10% -9% 4% Department stores -12% Specialty 28% -15% Retail DOS stores 51% 35% Region Nationality ) cemalblÇeOr 2in0t1e2r *. ()-,’’ Altagamma/Bain. The 2012 growth corresponds to the sales growth rate between FY11A and FY12A/E. *! 9ltagamma':ain, ËËOorldoide Dmxmrq Earcets Eonitor, *()- Mpdate,’’ Altagamma/Bain, October 2015. The luxury and cosmetics financial factbook 2016