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Concepción Moreno

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For luxury products, we should see a good Christmas period. Pex Tufvesson skabte musikprogrammet Noisetracker.

The sales force there all drive gray cars because it is the cheapest color. The chief executive and the chief financial officer share the same desk; paper and phone calls are rationed. Cost-cutting is a way of life, not a one-off activity.

These companies have a nice exposure to emerging markets. This is also an industry with very inelastic demand. The pricing power is strong.

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