And it’s easier now because the capacities in Asia and the factories are easy to get because you have to remember with all the inventory issues, there is less orders in the factories than there has been. So we could scale that pretty quickly, and the first time that you actually see some substantial volume hitting the big market is as we speak. It’s now in May, and it will stay as a pretty high volume during the whole second half. The trick now is, of course, it’s not only one shoe. It’s — if you look at it, it’s actually 4 different styles. There might even be a 5th one coming, and we need to manage them now so that we still, even if we scale it, keep supply lower than demand so that there’s still heat and that we continue to do both collabs and other marketing activities to keep these franchises hot, and I think that’s a test for us.
Can we do that disciplined? And very, very important that commercial and brand and the sourcing side works together, and I think that’s how you should judge us if you do it in a good way. But I have a very, very good feeling. When it gets to the order book, we are not publishing the order book, and there’s good reasons for that because if we had, you would see that the order book last year would not be relevant because of all the cancellations. You have to remember that last year, everybody ordered too much, and the order book at the second half of last year was inflated and it was never realized. That’s why it’s hard to judge now what is the order book. It is negative against the order book you had in the beginning, but that was inflated then it never happened.
And we are trying now to manage the balance between clearing old inventory and then having enough new inventory that is selling through, not necessarily to take all the business. We’re not chasing business in the second half because we think that will be too risky. So don’t expect us to show growth in the second half, but expect us to see that we’re following the plan of taking down the inventory and then having the basis to have decent margins going into ’24. So we are not in change mood to, what should I say, surprised you positively on the top line because the risk of that would be too big. And again, we need to clear the old inventory. So that’s the strategy.
Adam Cochrane: So if we were to think about the inventory number that you published. Is there a big difference between what’s at hand and in transit within that number?
Bjorn Gulden: I mean the transit number here would normally be around, I would say, a quarter maybe, ballpark. And that transfer number is not necessarily a lot different than — that’s actually smaller than last year. It is actually, if I’m really honest with you, it’s probably €400 million lower than last year. So — and you can see that in the payables, right? So the reduction in payable is mostly the difference in transfer because you see we’re buying less and also.
Operator: The next question comes from Piral Dadhania from Royal Bank of Canada.
