ELSAFUR S.r.l., Napoli (Italia), succursale in St. Moritz

Purpose of the branch: Retail and/or wholesale trade, production, as well as representation of the following products: clothing and apparel for the person, particularly fur and leather goods, lingerie and accessories such as handbags and shoes; trade in antique, vintage, precious furniture and non-furniture for the home, as well as food products, particularly fine wines and similar products. Sales and distribution will mainly take place through the indirect e-commerce system, traditional retail and/or wholesale outlets, as well as representative agencies may be established; it may grant third parties the use of the brand and corporate image. The company may carry out all other commercial, industrial, financial, movable and immovable activities that the administrative body considers instrumental, accessory, connected, necessary or useful for the realization of the activities that constitute the company's purpose, acquire interests and participations in other companies, consortia or enterprises having as their object activities similar, related or connected to its own, both directly and indirectly, both in Italy and abroad, as well as issue guarantees and sureties in favor of third parties, all provided that it is not in favor of the public and that such activities are not carried out to a greater extent than those that constitute the company's purpose.