Just finished both articles and got to say, really well done!
Not everything is as glamorous as it seems on a surface level. Nonetheless we got to acknowledge that we would likely do similar things if we were in ben's position. We want to believe that he bought a farm for his family out of purely self-less motivation. The reality is not everything is as ferry tale like as we would want it to be. Some things just make sense if you have such a high profile standing.
Not to justify demeaning or unlawful behaviour but often we're no better. I'm taking neither side here.
Another banger! Q - is ‘Indexed Price Per Unit’ the same as AUR ‘Average Unit Retail? Was listening to Burberry’s Q3 trading and they refer to the metric as AUR, which I think is the same? Check it here, hopefully it’ll lure you in to do a similar deep dive on some of these luxury behemoths, especially with all the recent/upcoming earning calls! https://secure.emincote.com/client/burberry/burberry044
Hadn't heard of that, but yes, looks like it's basically the same thing. I was using it broadly to show how units sold was increasing faster than actual revenue £, implying price cuts -- looks like retailers mostly use it to compare across products, product categories or store locations. But yeah -- same thing, in essence.
Absolute banger episode this one. Loved the way you have analysed the whole thing, and the humor bits sprinkled around. Also the Jeremy Giffon podcast (I am half way through) is terrific, thanks for recommending.
Since Reece talked about playing a role in getting Lewis £100m for his final shares rather than the £20m initially offered, I wonder if that played a role in Lewis selling some of his Maniere De Voir shares to Reece? Reece got him ten of millions extra and Lewis gave up his ability to block special resolutions at Reece’s company in return?
Just finished both articles and got to say, really well done!
Not everything is as glamorous as it seems on a surface level. Nonetheless we got to acknowledge that we would likely do similar things if we were in ben's position. We want to believe that he bought a farm for his family out of purely self-less motivation. The reality is not everything is as ferry tale like as we would want it to be. Some things just make sense if you have such a high profile standing.
Not to justify demeaning or unlawful behaviour but often we're no better. I'm taking neither side here.
Thanks for writing Andrew!
Completely agree — I’d probably do the same if I was Ben
just as good as part 1, thank you for writing these Andrew!
thanks Mitko! Glad you liked it
Another banger! Q - is ‘Indexed Price Per Unit’ the same as AUR ‘Average Unit Retail? Was listening to Burberry’s Q3 trading and they refer to the metric as AUR, which I think is the same? Check it here, hopefully it’ll lure you in to do a similar deep dive on some of these luxury behemoths, especially with all the recent/upcoming earning calls! https://secure.emincote.com/client/burberry/burberry044
Hadn't heard of that, but yes, looks like it's basically the same thing. I was using it broadly to show how units sold was increasing faster than actual revenue £, implying price cuts -- looks like retailers mostly use it to compare across products, product categories or store locations. But yeah -- same thing, in essence.
Ahh, that’s my old one that I wrote with my sister to keep her busy during lockdown
Going all in on finance and Ai so started a new one last month - ‘Your CFO is probably thinking about Ai’
https://monetizationuniversity.substack.com
Nice, will check it out.
👍
The art of forensic accounting is a lost art 🖼. Thanks 🙏 for bringing it back to life Andrew
Very kind words, thank you! I'd not considered myself a forensic accountant up until this point, but maybe I should...
... and start writing the sequel scrip to this movie: https://www.imdb.com/title/tt2140479/
He’s defo my hero 🦸♂️
Just subscribed to your newsletter btw -- looks great, how come you stopped publishing?
Absolute banger episode this one. Loved the way you have analysed the whole thing, and the humor bits sprinkled around. Also the Jeremy Giffon podcast (I am half way through) is terrific, thanks for recommending.
Thanks Sajid, appreciate it! And yeah that Giffon podcast is insanely good. one of the best I've heard in months. Glad you liked it.
Just coming back to this! It looks like you were for the most part correct about what had happened.
Reece Wabara talks about the breakup 22 minutes into this new podcast: https://youtu.be/4l0jcIA6qG0
Since Reece talked about playing a role in getting Lewis £100m for his final shares rather than the £20m initially offered, I wonder if that played a role in Lewis selling some of his Maniere De Voir shares to Reece? Reece got him ten of millions extra and Lewis gave up his ability to block special resolutions at Reece’s company in return?