Moncler is luxury goods company based in Italy Luxury goods industry: What are the drivers for this industry?

1. Forecast revenue for 2023, In light of the current events, please have three scenarios, and base case, a bull a bear case.

2. Complete the very simple earnings model provided to you in an excel spreadsheet. Use all publicly available information from the Moncler website, Bloomberg, sell side research reports available to you in your estimates. There is no right or wrong answer however please justify all your assumptions For your base case What is the profit margins? What is the EBITDA margin? What is the EBIT margin? What is your EPS? How does it rank in terms relative valuation, fundamentals and catalysts

What are the main risks? Based on your answers form a very quick investment thesis?

Bonus point (By the way, What happened in the number of stores between 2017 and 2018? )

Hint: Focus on developing annual forecasts, dont worry about quarterizing your forecast Please answer in bullet point format