We had a huge success with some of the Yeezy shoes that were running-based. We had NMDs that were running based, and we had all the models. And right now, on the shelf of the lifestyle account, there is very little running that is coming from us. And that’s one of the special projects that we’re now working on with our new creative people is to develop new silhouettes together with also old classics from the ’70s and ’80s, which we have in the archive. So we need both. And again, I think all the shoes in that €90 to €120 price points coming out of the archive are scalable. And that’s why I feel I’m sitting in a very good situation midterm because we have all these shoes, and you know they come and go. It’s just a matter of managing them and also have enough resources on telling the story and heat them up so that we don’t go up and then go down again, which has been the history of adi and where we have to admit that Nike has done a much better job.
But it gets to the price increases, we need to be a little bit careful because you know that when cost and freight and everything go up, there was a lot of price increases in the market also from adi and not all of those worked. That’s why in the in-line normal styles, I’m not looking at price increases, but then when we do collab like Bad Bunny or we do, what should I say, limited editions with different materials, there is much more air to then do higher prices, which is then creating the heat on the style. So this is a little bit a puzzle of making sure that you have stories, that you take prices up on special editions, that you do collabs, but that you keep the commercial price points, I would say, between €90 and €120 million. Above that, on the court side, it starts to get difficult.
And I think that is not what we should do. At the same time, you can do takedowns. Also, what you do at €100 and €110 million as an Original, you can also do at €60 as a takedown in the family channel. And this is, of course where, for example, all the companies have done a better job than adi has done, and this is something we’re working on to capitalize on the heat on 2 different price points in different distribution channels. So again, still a lot of work to do. But again, we have all, as I said, the ingredients. And if we get a little bit of time where we can manage this and do it in a proper way, I’m actually very optimistic that we can have more franchises at the same time play in more distribution channels, and that we can then have more consistency and when we are phasing things up and phasing down and do a better job on it, which is the task.
When it gets to Russia, I’m looking at my friend.
Harm Ohlmeyer: Yes. When it comes to Russia, first and foremost, nothing has changed. We’re in the process of winding down the business. But as you all remember, we had a pretty significant operations in Russia. We have our own warehouse. We have a long-term lease with our office. We had many retail stores, and of course, we are in the process. We have already sublet most of our office space. We have transferred or notified some of the retail stores. We are in the process also to transfer some of these stores or sublease some of the stores. And of course, we are looking at opportunities and multiple options for our warehouse as well. But really clearly, nothing has changed in winding down the operations.
Thomas Chauvet: So no plan to return to Russia anytime soon?
