Now the next 6 months, there is an even stronger plan. In the U.S., we have a strong acceleration of innovation. I mentioned already some in the in the prepared remarks like Estee Lauder Pachorolistic, Moreso Sudo Clinique, Hyperion Marc, soft cream on La Mer, cherry collection to Ford. So — and then we have some important distribution improvement. We are deploying more distribution in department store of our high-end fragrances in Macy’s in dealers the ordinary is entering some doors and strands. We are deploying in Ulta and in Sephora new, incremental and incremental expansion of our key brands in these doors. And we are renovating 100 free stand store opening 8 new freshen stores and continue to improve our omnichannel capabilities on all fronts.
So we see an acceleration of our progress also in the U.S. So in summary, when I should add what Tracey also underline that at the same time, we have improved our capability behind this program. Our digital marketing is strong. Our supply chain is shortened and faster. Obviously, we have done progress in our factory in Japan, our R&D has opened our R&D center in China that will increase the amount of local relevant innovations in Asia in an important way in the next fiscal year — starting this fiscal year in a significant way. And we have opened a new distribution on the serves travel retail in Switzerland and on the service, obviously, China, within China, as we discussed also in the last call. So there are all these investments and progresses in capabilities that make us ready the reacceleration in the future.
And so this fiscal year, in summary, has been a year where, really, we suffered about the COVID lockdowns, particularly in Asia. And then the high level of infections during the reopening and the impact of the strength of the U.S. dollar that was particularly big in our high profit, high important channels like travel retail, like China, travel retails because on core and China, the dollar was particularly impactful. So it was really a perfect storm kind of situation. But all the rest, apart from these 3 areas really progressed and in some cases, very successful in market share gaining. So that’s my overview. I hope to answer your question that having an overview of the situation. but I would say is very, very encouraging for the recovery period.
Operator: The next question is from Peter Grom of UBS.
Peter Grom: So Tracey, I wanted to ask about the implied outlook for organic revenue growth in the fourth quarter, which is quite strong and better than expected. And I know we’re still a few months away from fiscal ’24 here. But is the implied exit rate in the 4Q guidance a fair way to kind of think about the potential top line recovery looking out to next year? Or are there kind of the timing-related impact given what you’re forecasting in 3Q that could be driving them a stronger growth So look, we are expecting a stronger fourth quarter than probably you anticipated and us as well, given a few months back. And part of that, as we said in our prepared remarks, is because of the shift of recovery expectation, certainly in terms of some of Travel Retail, I would just remind you that — and I know you’re well aware of this, we’re also anniversarying last year’s some pretty significant shutdowns.
