ECP | Luxemburg, 17.04.2020
The Economist run a cover last week with the title “The business of survival : How COVID-19 will reshape global commerce”. This is exactly what the managements of the companies we are invested in are doing: they make sure that their businesses survive. In a Darwinist approach of survival of the fittest, communication and public relations can sometimes become the collateral damage of this struggle. This is what happened to one of our recent additions to the portfolio, the German sports shoemaker Adidas. In March, the company wanted to make use of the German government’s emergency response to the COVID-19 crisis by holding back rent payments to its shops.
Mit freundlichen Grüssen aus Luxembourg
Léon Kirch, CIO & Partner
