Capital Markets Day, November 28, 2012 TOM TAILOR GROUP - STRATEGY UPDATE DIETER HOLZER CHIEF EXECUTIVE OFFICER

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1 Capital Markets Day, November 28, 2012 TOM TAILOR GROUP - STRATEGY UPDATE DIETER HOLZER CHIEF EXECUTIVE OFFICER

2 TOM TAILOR GROUP AT A GLANCE Retail Wholesale TOM TAILOR BONITA TOM TAILOR Retail stores E-commerce Retail stores Franchise stores Shop-in-shops Multi-label 283 in Europe 6 e-shops (de, at, nl, be, fr, ru) 974 in Europe 167 in Europe 1,979 in Europe ~6,300 worldwide Increasing retail share Retail Wholesale FY 2011 Sept % 38% Product portfolio male/female/kids FY 2011 Sept Men Women 11% 6% Kids 28% 47% 62% 62% 42% 66% Figures as of September 30,

3 TOM TAILOR Group TOM TAILOR GROUP THE INVESTMENT CASE 1 2 A leading German fashion company with two complementary umbrella brands targeting attractive customer segments in stable and promising markets Strengthened profile as a vertical retailer with expanded retail distribution, strong wholesale and growing e-commerce business 3 Superior business model with full control over entire value chain 4 Upside potential for lfl growth by reducing lead times at BONITA 5 Substantial economies of scale from new sourcing strategy 6 BONITA s retail and logistics capabilities to support retail management and rollout across the Group 7 Sufficient headroom to finance further organic growth 3

4 1 A LEADING GERMAN FASHION COMPANY The leading German apparel companies by sales ( m) in 2011 Adidas Esprit Hugo Boss Multiline Textil s.oliver Group The leading European apparel companies by sales ( m) in 2011 Puma Steilmann Holding 850 Adidas Group Esprit TOM TAILOR Group TT 790 No. 8 of 55 Tommy Hilfiger Gerry Weber CBR Fashion Bestseller Group Burberry Group Hugo Boss JCK Holding Holy-Gruppe TOM TAILOR Group Groupe Zannier No. 24 of 139 Marc O'Polo 346 Gerry Weber 703 Source: TextilWirtschaft September 2012 (apparel companies with sales above 50m); BONITA and TOM TAILOR sales refer to 2011 proforma figures Note: unaudited BONITA financials prepared in accordance with IFRS, recalendarised to Dec Y/E 4

5 1 WITH TWO COMPLEMENTARY UMBRELLA BRANDS TARGETING ATTRACTIVE CUSTOMER SEGMENTS Customer segmentation by age TOM TAILOR Denim TOM TAILOR Casual BONITA 57% < 25 years 87% between years 74% > 46 years 83% 30% 21% 37% 26% 29% 32% 22% 9% 3% 1% <1% 11% 3% 1% 1% 3% 13% < > 65 Three clearly differentiated brands; extended customer target reach through BONITA Focus on casual wear in mid price segment Primarily targeting the middle income consumer segment (in Germany 55% of all households) Increasing proportion in women s apparel (almost 70%) 5

6 1 IN STABLE AND PROMISING MARKETS Benelux [ ¹ ] TT Bonita Total Retail Franchise 6 6 Total France TT Bonita Total Retail Franchise 2 2 Total Switzerland TT Bonita Total Retail Franchise 8 8 Total Austria TT Bonita Total Retail Franchise Total South Eastern Europe [ ² ] TT Bonita Total Retail Franchise 9 9 Total Strong presence in Germany Germany International 35% 65% FY 2011 Sept % 69% Germany TT Bonita Total Retail Franchise Total Poland TT Bonita Total Retail Franchise 1 1 Total Other TT Bonita Total Retail Franchise Total Total TT Bonita Total Retail ,257 Franchise Total ,424 TOM TAILOR presence Joint presence TT = TOM TAILOR; figures as of September 30, 2012 [ ¹ ] Benelux comprises Belgium and the Netherlands only; [2] South Eastern Europe comprises Bosnia, Bulgaria, Croatia, Serbia and Slovenia 6

7 2 STRENGHTENED PROFILE AS A VERTICAL RETAILER Significant boost in retail share to Group sales ( m) Wholesale Retail e* 9M M 2012* *Includes BONITA since August

8 2 WITH EXPANDED RETAIL DISTRIBUTION, Increased focus on strategic growth segment Retail Product offering focussed on customer needs (direct feedback) Easier merchandise replenishment of stores Strengthening of brand perception Higher gross margins support Group profitability Expansion plan: 60 TOM TAILOR stores p.a. 40 BONITA stores p.a. Target Retail contribution to Group sales will reach 70% in 2013 and will rise even further in the coming years 8

9 2 STRONG WHOLESALE TOM TAILOR Wholesale remains well positioned for future growth Concentrating on controlled sales areas (franchise stores, shop-in-shops) Connection to TOM TAILOR EDI system Desirable brands with strong proposition for wholesale partners Delivery of the right product at the right time to the right place in the right quantity. in connection with intelligent replenishment solutions (NOS) Knowledge transfer from retail experience to wholesale Expansion plan: TOM TAILOR shop-in-shops p.a TOM TAILOR franchise stores p.a. 9

10 2 AND GROWING E-COMMERCE BUSINESS TOM TAILOR e-commerce sales in m CAGR : 48% +14% +31% +88% % +73% % 16,6 Number of registered customers % % ,7 23,5 21, % 8, , M 9M End Sept. End Sept M 2012 TOM TAILOR Constant assessment of usability, assortment, presentation and service features Launch of a European e-shop in Q BONITA Introduction of BONITA fashion card in Q Launch of BONITA e-shop in Q Target Mid-term contribution of 10% to Group sales 10

11 TOM TAILOR 3 SUPERIOR BUSINESS MODEL WITH FULL CONTROL OVER ENTIRE VALUE CHAIN weeks 11

12 4 UPSIDE POTENTIAL FOR LFL GROWTH BY REDUCING LEAD TIMES AT BONITA Setting up a new design and product cycle Short term measures Today today weeks Sale Understand consumer demand Introduce trend scouting Balanced product group mix goal Time saving: 16 weeks weeks Sale Introduce collection framework i.e. price architecture Target Positive lfl development earliest in Q

13 5 SUBSTANTIAL ECONOMIES OF SCALE FROM NEW SOURCING STRATEGY China: 18 employees India: 26 employees Bangladesh: 46 employees Hong Kong: main office 6 employees Vietnam: 14 employees Indonesia: 20 employees 2011: TOM TAILOR Sourcing Ltd. is founded in cooperation with long standing partner Asmara International 2012: 68% of overall sourcing volume already sourced directly in Q (46% in Q3 2011) Number of suppliers reduced from 236 to less than : TOM TAILOR Sourcing Ltd. starts to procure for BONITA Transfer of total sourcing volume to TOM TAILOR Sourcing Ltd. completed Gross margin improvement from 2013 onwards 13

14 6 BONITA S RETAIL AND LOGISTICS CAPABILITIES TO SUPPORT RETAIL MANAGEMENT AND ROLL-OUT ACROSS THE GROUP Distribution centre 80-90% Push: first delivery Stores Delivery of new stock Quality control Stores Pull: Restock 10-20% Storage Pull: resupply Stores Highly efficient stocking and redistribution system through centrally controlled redistribution system Automatic commissioning Efficient store-to-store redistribution Goal Same pull and push logistics with store-to-store redistribution across the Group Warehouse in Hamminkeln will become the retail logistics centre for the Group Outsourced TOM TAILOR warehouse in Hamburg remains warehouse for wholesale segment 14

15 OUTLOOK 2012: STRENGTHENING OF FINANCIAL PROFILE Net sales 2012 incl. BONITA* 625m 635m Recurring EBITDA 70m 75m Recurring EBITA 40m 45m Outlook confirmed under the assumption that consumer confidence remains stable in Q *Consolidation of BONITA as of August 1,

16 OUTLOOK 2013 AND BEYOND: FOCUS ON PROFITABLE GROWTH 2013 Growth Group sales of at least 900m Profitability Group recurring EBITDA margin of at least 12.0% Operations Focus on conclusion of BONITA integration and finalization of current projects 5 years target Profitability Group EBITDA margin of at least 15% 16

17 7 SUFFICIENT HEADROOM TO FINANCE FURTHER ORGANIC GROWTH Financing structure ( m) 455 Extension of financing structure allowed take over of BONITA and provides room for financing further store roll out in the future 225 LC + guarantee line 137,5 137,5 Working capital financing Interest payments are variable and based on short term Euribor plus an additional margin Duration of 3 years plus a renewal option for an additional 2 years 100 Cash line Net debt at end of Q at 279.5m Term loan 180 Net debt / EBITDA below 2.0 times in 2014 Target Old structure New structure as of Feb as of Aug Reduction of net debt by 10m p.a. 17

18 FINANCIAL SUMMARY I Net sales Gross profit Segment Driver e 2013e 2017e Group >900 Retail Wholesale Lfl growth, store openings, E-commerce Expansion controlled distribution areas Group 46.0% 49.0% Retail Lfl growth 61.9% 60.8% Wholesale Own sourcing organisation, synergies 38.9% 41.9% Impact on EBITDA margin* * Comparison

19 FINANCIAL SUMMARY II Impact on EBITDA margin* Segment Driver e 2013e 2017e Group 46.0% 49.0% Gross profit Other operating income Personnel expenses Marketing expenses Other operating cost Retail Lfl growth 61.9% 60.8% Wholesale Own sourcing organisation, synergies Group % Group % Group % Group Freight cost % Administrative expenses 38.9% 41.9% % Others % EBITDAR Group % Rents % EBITDA Group % * Comparison % % % % % % % % % % 15.0% 19

20 FINANCIAL SUMMARY III EBITDA Segment Driver e 2013e 2017e Group % Depreciation Group % EBITA = EBIT Group % Amortisation % % % % 15.0% TOM TAILOR BONITA Interest result % EBT Group % Taxes Group % Net income Group % % % % % Impact on net income margin* * Comparison

21 INTEGRATION UPDATE 21

22 INTEGRATION PROCESS BONITA AND STRATEGIC INITIATIVES E-commerce Product design Merchandise planning & controlling Sourcing Logistics Aug. 8, 2012 Sept. 30, 2012 Dec. 31, 2012 March 31, 2013 June 30, 2013 Sept. 30, 2013 Dec. 31,

23 STRATEGIC INITIATIVES I E-commerce Activities Transfer of TOM TAILOR s e-commerce competence to BONITA Build up e-shop at BONITA Finalization End of Q Benefits Mid-term contribution of 10% to BONITA sales Product design Activities Finalization Benefits Transfer of TOM TAILOR s collection planning competence and design capabilities to BONITA Reduce lead times at BONITA Usage of sales figures for product design End of FY Positive impact on lfl development earliest Q

24 STRATEGIC INITIATIVES II Merchandise planning & controlling Activities Finalization Benefits Introduction of merchandise planning & controlling Introduction of clear price architecture Shorten sales cycle in stores (increase stock turn rate) Usage of sales figures for product design End of Q Positive impact on lfl development earliest Q Lower level of stock lower working capital Sourcing Activities Finalization Gross margin benefit Shift part of BONITA s sourcing from Europe to Asia Joint use of TOM TAILOR s Asian sourcing office to increase share of direct sourcing and to bundle volumes at same suppliers Organisational and functional set up concluded end of FY 2013 Majority of BONITA sourcing procured by TOM TAILOR Sourcing Ltd m 6m 10m 24

25 STRATEGIC INITIATIVES III Logistics Activities Same pull and push logistics with store-to-store redistribution across the Group Increase share of store-ready picking to increase staff productivity in stores Finalization End of Q Benefits Lower level of stock lower working capital Lower mark-downs Lfl growth Benefits partly compensated by higher freight cost 25

26 OUR VISION Become one of the leading European fashion companies 26

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