it's a little too early to judge christopher bailey now. risk in japan.ues you raised. one is that burberry clothing is japanese licensed. and you said the japanese and perhaps the chinese, they are changing what they want from a luxury brand. it is a big risk, isn't it to the banner brand of burberry? >> yes, absolutely. burberry has announced they will close their franchise business here which is worth about 500 million pounds retail in japan. they just received royalties. usually would close of the business to purify the brand or where licensing is doing a lot of damage to the brand and you will probably expect me to say it is the thing they should be doing. if you look at their business right now, they are doing extremely well. they are one of the leading brands a you can see it is not damaging the brand. clothing is something to be put in question, especially that they are selling products of the older generations and pick up from the media and let's not forget the older generation as they are the ones to spend. in japan, they are spending. whether t