234 SePARATe FInAnCIAL STATeMenTS MONCLER GROUP 2023

FULL TIMe eQUIVALenT (FTe) Average annual number of employees equivalent to full-time workers.

IFRS 16 Accounting principle that requires companies to recognise in their accounts the right-to-use of leased assets and the related liability corresponding to the obligation to make lease payments. Assets and liabilities arising from leases are measured on a present value basis.

KeY MOneY An amount of money paid by the assignee to the assignor of lease agreements in retail properties, representing the goodwill connect- ed to the prestige of a specific location.

nUOVO LUSSO A concept that embraces the search for experientiality, inclusivity, a sense of belonging to a community and the mixing of diverse mean- ings and worlds including those of art, culture, music and sport.

OUTLeT A shop that sells products and collections from previous years and seasons at discount price.

ReTAIL distribution channel directly managed by the Group.

SHOP-In-SHOP A dedicated mono-brand selling space located in and managed by a department store.

SRI (SOCIALLY ReSPOnSIBLe InVeSTOR) Financial operator who integrates standard financials with environ- mental, social, and governance considerations.

STAKeHOLdeR every entity that has a legitimate interest in the activity of an organi- sation and influences or is influenced by the organisation s decisions.

SUPPLY CHAIn distribution processes that begin with the supply of raw materi- als or components and end with the customer, encompassing all phases of production, wholesale and retail.

TRAVeL ReTAIL STORe Point of sale located in places where there is a high flow of travelers, such as airports and train stations.

WHOLeSALe distribution channel owned by a third party that manages the prod- ucts it buys and resells them on its own.

WHOLeSALe MOnO-BRAnd STORe Shop-in-shops (SIS) and all mono-brand stores that are not direct- ly managed by the Group.