A model that

sets us apart

Stéphane Bianchi

Group Managing Director

# 1 – STRENGTHS

In a complex and fragmented environment , our extensive portfolio

of Maisons and expertise , and our balanced international presence

mean we are less exposed to cyclical fluctuations . This strategy

makes the Group more resilient , and this is reflected in robust

results for 2025 .

One of the keys to this performance is our distinctive model . Our

decentralized organization always gives priority to our Maisons , what

shapes their identity , and their enduring strengths . This entrepre -

neurial culture gives us the agility we need to innovate , act and react

in sync with our markets , while forging deep and personalized

relationships with each of our customers .

At the same time , we work to promote close cooperation across the

entire Group . Driven by the same values , passion for creativity and

unwavering pursuit of excellence , our teams work together on shared

priorities . This cohesion plays a decisive role in bolstering our

expertise and boosting our impact on strategic cross - cutting issues :

development of our industrial and logistical platforms , vigilance

and   compliance , energy transition , sustainability and more .

2 COLLECTIVE INTELLIGENCE

This ability to work together also enables us to find relevant and

ambitious ways to harness each technological development with

new artificial intelligence models being a prime example These

models will create opportunities for our Maisons provided we

understand how AI fits into our customers lives and how we can

put it to work for people – not only to boost our operational

productivity but also to stimulate the creativity of our teams and

rethink our processes .

Our Group is and always will be driven by people . In each of our

Maisons and functions , our most strategic asset remains the talent

of our employees . We are committed to developing that talent

through sustained investment in induction , training , career paths

and   working environments : our constant ambition is to pass on our

expertise to future generations .

# 3 – VALUES

Drawing on the strength of its model and its talented people , our

Group is moving ahead in 2026 with confidence . The coming months

will undoubtedly bring economic , geopolitical , technological and

societal change . In this environment , our Maisons , their products

and   their experiences offer our customers an ever more vital reference

point and haven .

This is both a responsibility – which comes with our duty to preserve

our unique heritage – and an opportunity : in remaining true to our values

and our long term vision we are uniquely positioned in terms of cre

ativity communication experience service and quality Alongside

greater agility and constant rigor in all our operational decisions this

can only strengthen the desirability of our brands That is what drives

our Group and all our employees