Value Creation Through Brand GlobalizationPresentation to the AAFA Conference

25 June, 2008

Ajay Khaitan

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 1

Emerisque set-up shop in London, England in 2003/4

Focus is on the acquisition of under-performing, mid-sized, international consumer brands

Specialty is in repositioning brands and leveraging brand equity in emerging markets, and aligning business

valuation with growth opportunities.

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 2

The Theory

‘No Brainer’

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 3

April, 2008

The World Out There – in 2008

Source: IMF

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 4

The Emerging Markets: Expanding Faster Than Anticipated

BRICs – Brazil, Russia, India, ChinaN-11 (Next Eleven) – Bangladesh, Egypt, Indonesia, Iran, Korea, Mexico, Nigeria, Pakistan, Philippines, Turkey & Vietnam

Source: IMF in Financial Times, March 2007

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 5

In Retail, Global Growth Opportunities are Very Clear

Source: AT Kearney Global Retail Development Index

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 6

Luxury Brands Growth in Asia

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 7

Globalised Retailers: Sustainable Growth, Better Profitability

Source: Deloitte – January 2008 Global Powers of Retailing

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 8

Retail Multiples In Asia Reflect The Growth/Value Paradigm

Source: Deloitte – January 2008 Global Powers of Retailing

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 9

The Practice

‘Re-learning’

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 10

Corporate Objective

Risk v Reward

Value v Revenue

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 11

Corporate Commitment

Medium Term

Resources and Capital

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 12

Partnerships

Strategic v Opportunistic

Understanding each target market, defining & searching for the ideal partner/plan/terms

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 13

Brand Traction

Aligning with the Consumer

DNA v Now

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 14

Retail Support

Retail v Wholesale

Differentiating Experience

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 15

Product Strategy

Global v Local

Mix towards Purchasing Power

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 16

Managing Partnerships

Promise vs Focus

Measurability Key

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 17

Servicing Partnerships

Contract v Reality

Live the Life, in the Market

THANK YOU

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 19

Ajay Khaitan

Ajay Khaitan founded London-based Emerisque in 2004. Beginning his career in 1984 with the conglomerate, Khaitan Group

(India), Khaitan has investment and operating experience in more than seventy countries. In his corporate development/ investment

management roles, he has mobilised/deployed and managed investments aggregating approximately $1.7 billion. He has directly

managed, as Chairman and CEO, industrial, services and branded businesses from new start-ups to businesses in excess of $850

million in revenue, based out of India, Switzerland, the UK and the U.S., leading them through periods of transformational change,

delivering annual increases of $65 million in new profits. Khaitan acted as Chairman/CEO for Emerisque’s first acquisition, Lee

Cooper Group, a UK-based denim brand, between 2005 to 2007.

SPEAKER BIOGRAPHY

American Apparel and Footwear Association Conference Presentation, 25 June, 2008 20

COPYRIGHT INFORMATION

© Emerisque Brands UK Limited

All rights reserved. No part of this document may be reproduced in any material form (including photocopying

or storing it in any medium by electronic means and whether or not transiently or incidentally to some other use

of this document) without the written permission of the copyright owner except in accordance with the

provisions of the Copyright, Design and Patents Act 1988 or under the terms of a licence issued by the

Copyright Licensing Agency Limited. Applications for the copyright owner's written permission to reproduce

any part of this document should be addressed to Ajay Khaitan c/o Emerisque Brands UK Limited, 53 Davies

Street, London W1K 5JH, United Kingdom.

Warning: The doing of an unauthorised act in relation to a copyright work may result in both a civil claim for

damages and criminal prosecution.