Flair de Paris GmbH

Operation of a hairdressing salon; holdings; acquisition, encumbrance, sale and management of real estate, with the exception of transactions prohibited by the Federal Act on the Acquisition of Real Estate by Persons Abroad (Lex Koller); in particular, the company may grant direct or indirect loans or other financing to its direct or indirect subsidiaries, as well as to its direct or indirect parent companies and their direct or indirect subsidiaries, and to third parties, and provide security of any kind for the liabilities of such other companies, including by way of pledges or fiduciary transfers of the company's assets or by guarantees of any kind, whether remunerated or not.