China Market Needs to 'Mature': Ferrari CEO

How do you deal with the China strategy? How do you China, how do you deal with China for us? Is we said two years ago, China overall, China one Hong Kong. Greater China will not go beyond 10% of our sales. Why? For a couple of reasons. One is because the market in China is still not mature. We need to give time to mature. And the second because it's a little bit decorative on the margin side for the profit and loss. But really we need for each country, we need to give the time to mature. There are other countries also that are showing good. Good growth and also there we have to proceed in the right way. But I mean, the China template could be a little bit different to other markets, right, because there's a crackdown on, on some luxurious, you know, brands. So again, how do you see that evolving? Is it, is it like a stop and start? I would like to say in this way, China is not for Ferrari what it is for other luxury brands. In other cases, you have exposure that is more than 20%. In our case it is less than 10%. It will stay less than 10% for the reason I told you for sure. We have also people from that nationality buying outside. But I think let's say there are a couple of things I'm particularly proud of of the last capital market day. One is to keep China below 10% and two, to keep going with the three colors in our product strategy.

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