Luxury Contract WeaknessLuxury Contract remains the main element of weakness, as some luxury brand clients are postponing or canceling their store opening plans.
Market Context Challenges3Q was below our estimates and extremely weak, impacted by the tough market context and by some specific difficulties in the contract business.
Organic Revenue DeclineOrganic revenues were lower due to a weak context and a more cautious attitude in the project business, particularly affecting the Soft Contract channel.