If luxury has to do with an aura, a dream effect, creative people, a creative vision of the market, actually you understand that luxury has a lot to do with culture. So culture can be the company’s culture, the founder’s culture, but also the country of origin’s culture. In fact France and Italy have a lot to do with the luxury world. Let me say something about why luxury is mainly a European phenomenon and why so connected with culture. Culture is about attitudes, opinions, visions of the world, and values; And Europe has been driven by actually some values that are even today representative of quality of beauty of aesthetics has always been in France in Italy due to the willingness of princes, kings, dukes who actually created beautiful objects to be shared of course to remind [everyone] of who they were, but also to be shared with the towns and the villages. So being surrounded by beauty is really something that in Europe was vary important, and has left as a legacy, and it's still something that we can see in the our landscape. If we think about luxury as a culture, we have also to say a few things about the different luxury cultures of France versus Italy. France has an institution that represents luxury brands that is Comite Colbert, a very prestigious institution, and the definition of luxury that is behind the French culture is that luxury is an industry that conveys culture and identity. The identity of the family, the identity of the founder, the identity of the brand. The French luxury is more mythological, it’s more timeless, it’s more about timelessness if you think about the families, the generations behind Hermes, the generations behind Cartier, or even Vuitton. You think that the French luxury. Has to do a lot with heritage, even if this heritage is not protected into the future and into a contemporary statement. But the French, luxury has more to do with the art de vivre also connected to many product categories, wines, arts de la table, and accessories. If we go to Italy and we try to understand how the luxury culture connects with Italian culture, you see that Italy's less about the past, less about the heritage, is more about the excellence in the, entire value chain, an excellence in manufacturing. And excellence in innovation, the Italian luxury, is more, defined as an altagamma high-end. Sometimes Italians do not like the word luxury for their product because they they don't want to be perceived as inaccessible products. They would rather be perceived as products that are excellent. Very high quality and very innovative. Also, in daily activities, and in your daily life. So, the Italian culture of luxury is not so much the art de vivre. But, I would say more, la dolce vita, living well. A hedonistic, kind of reference. And, pleasures in using these products everyday.