WEBVTT - Macron’s Blue Aviators Spur 70% Surge in Tiny Italian Firm

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news. You're listening to Bloomberg

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<v Speaker 1>Business Week with Carol Masser and tim Stenoveek on Bloomberg Radio. Okay, Davos,

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<v Speaker 1>it's a place to see and be seen.

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<v Speaker 2>Yes or yeah it is, I mean listen. It's where

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<v Speaker 2>the world's billionaires go right. Global leaders gathered this past

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<v Speaker 2>week at the World Economic Forum's annual meeting. It was

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<v Speaker 2>also where a pair of blue aviators made headlines and

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<v Speaker 2>were talked up around the globe. Those glasses became a

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<v Speaker 2>hot item and demand, according to the company that makes them.

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<v Speaker 1>For more, we head to Italy Anti Stefano Fulchier, the

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<v Speaker 1>CEO of Ivision Tech. It's the parent company of the

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<v Speaker 1>French luxury brand Henry Julienne, which made the glasses. Stefano,

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<v Speaker 1>good to have you on the program. Take us through

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<v Speaker 1>what happened since President McCrone wore those glasses. What did

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<v Speaker 1>you see in terms of demand? What did you see

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<v Speaker 1>in terms of people buying them?

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<v Speaker 3>Tell us everything, Yeah, evening and thank you to have

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<v Speaker 3>invited me. So I think the effect is like a

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<v Speaker 3>one effect. It was amazing because from Tuesday our website

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<v Speaker 3>went in crash. Different times we have received a lot

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<v Speaker 3>of phone calls because everybody wants to buy something like that,

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<v Speaker 3>you know, and so they have realized that the ivory

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<v Speaker 3>is from a Rijilien and so we are covered full

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<v Speaker 3>of requests and now we have immediately started to make

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<v Speaker 3>power for the production of this model because everybody all

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<v Speaker 3>over the world wanted so you know, the sales impact

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<v Speaker 3>reaction was also amazing, and we have sold in one

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<v Speaker 3>day like the same quantity of one hour of production

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<v Speaker 3>of this model, which is.

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<v Speaker 2>How many can you share with us what that number is?

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<v Speaker 3>Yeah? Sure, we are not talking about very big numbers

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<v Speaker 3>because we are a luxury brand, so we produce this

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<v Speaker 3>iware that is in gold lamination, so very particular. And

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<v Speaker 3>now we are more than two hundred in only one

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<v Speaker 3>day for this model, and so the demand is we

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<v Speaker 3>receive orders every minute, so we have blocked the PayPal

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<v Speaker 3>three times, so we need every time to make a

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<v Speaker 3>restritoration of the website. So it is amazing.

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<v Speaker 2>What's happening.

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<v Speaker 1>We know shares the company up forty percent so far

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<v Speaker 1>this month. Today they're up more than twenty one percent.

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<v Speaker 2>I mean often running listen, did you know that he

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<v Speaker 2>owned a pair and I'm just curious. Tell us about

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<v Speaker 2>these classes. What are they made of? I mean, how

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<v Speaker 2>much did they go for?

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<v Speaker 3>So everything happens in twenty twenty four because we have

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<v Speaker 3>received a call from the Eliza, from the assistant of

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<v Speaker 3>the president and they want to buy one because they

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<v Speaker 3>want to make a present for a minister in the

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<v Speaker 3>period of g twenty So I remember that I ever

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<v Speaker 3>received this call. And so when we have received this call,

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<v Speaker 3>we say, wow, this is the president, so we have

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<v Speaker 3>to do something more and we want to make a

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<v Speaker 3>present also to give you something. But the assistant told

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<v Speaker 3>us okay, please, okay, but we want to pay, so

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<v Speaker 3>you know, they try to respect that and they ask

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<v Speaker 3>us to have everything made in France. So they want something,

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<v Speaker 3>you know, every phase, because you want to represent a

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<v Speaker 3>product from the history of France. And I have to

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<v Speaker 3>tell to you that, you know, rigial En is an

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<v Speaker 3>historical brand. The company is born in nineteen twenty one

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<v Speaker 3>and this is a one hundred years company. And so

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<v Speaker 3>when we have sent them, we don't We didn't have

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<v Speaker 3>any news after that, and we recognized between our customers

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<v Speaker 3>because of some customers during Monday, they start to send

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<v Speaker 3>me pictures and they say is it that an originally

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<v Speaker 3>en and they say yes, and so on Tuesday everything happens.

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<v Speaker 2>You know.

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<v Speaker 1>So I want to talk a little bit about supply

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<v Speaker 1>chains here, because what is notable about these frames is

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<v Speaker 1>that they are made in France. In this day and age,

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<v Speaker 1>most sunglasses are and most classes are actually made at

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<v Speaker 1>least the ones that come to the US are actually

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<v Speaker 1>made in China. And I'm curious about the supply chain

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<v Speaker 1>here in a conversation where we're talking a lot about

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<v Speaker 1>domestic manufacturing in the United States that's been a big

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<v Speaker 1>focus of President Trump. How do you keep manufacturing in

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<v Speaker 1>France and not outsource it to other parts of the

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<v Speaker 1>world where it would be a lot cheaper.

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<v Speaker 3>Yeah, thank you very much for this question, because I

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<v Speaker 3>would like to start from the beginning, because our company

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<v Speaker 3>was born six years ago, because we have started in

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<v Speaker 3>October twenty twenty, so in the middle of the COVID period,

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<v Speaker 3>because we have both the Sapphilo plant in Udine, so

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<v Speaker 3>one hour from Venice, and the idea is to restart

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<v Speaker 3>the production of the IWA in Frily so freely is

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<v Speaker 3>our region where I live. And you know, in that

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<v Speaker 3>period the Saphalo has closed the plant and we restart

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<v Speaker 3>the production inside. And we have a huge capacity here

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<v Speaker 3>in Italy because our main company in Italy is a

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<v Speaker 3>capacity about one million highware per year. So if we

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<v Speaker 3>are talking about our company at visually En in France,

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<v Speaker 3>we produce like one thousand pieces per year. So we

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<v Speaker 3>have a very niche market for this type of production.

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<v Speaker 3>And what we have done the idea when we have

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<v Speaker 3>both at Julien in October twenty twenty three, so after

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<v Speaker 3>our listing in the stock has change, we have decided

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<v Speaker 3>to create like a boutique. So our idea was to

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<v Speaker 3>produce in France only some small pieces. Talking about the

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<v Speaker 3>historical process everything hancraft with a lot of faces. And

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<v Speaker 3>I would like also to say to you that this

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<v Speaker 3>iur is in gold lamination, So what is the particularity

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<v Speaker 3>of that that inside you can find gold and so

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<v Speaker 3>it's a very precious material. And the final price is

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<v Speaker 3>not too amazing because we are talking about six hundred

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<v Speaker 3>and fifty euros each and talking about gold is a

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<v Speaker 3>very competitive price. But this is something that represents, you know,

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<v Speaker 3>the story of the French production. And finally, I believe

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<v Speaker 3>that we are based in the two most being important

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<v Speaker 3>all over the world. Because if we're talking about highware

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<v Speaker 3>production made in France is very important, like made in Italy.

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<v Speaker 3>So you know, in France there is the Jura area

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<v Speaker 3>that is very famous, like in Italy that we have Cadore,

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<v Speaker 3>and Cadora is very famous for the iware companies, you know.

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<v Speaker 3>So we have a lot of knowledge, a lot of people,

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<v Speaker 3>and to create a good iWar you need also to

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<v Speaker 3>have a good stuff, good people. Our people inside has

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<v Speaker 3>twenty five years of experience to create iwor so IW

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<v Speaker 3>is not really easy to produce something like that.

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<v Speaker 2>So I am wondering. I just want to jump in

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<v Speaker 2>for a moment because we just have about a minute

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<v Speaker 2>or so left here, and I do wonder if what

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<v Speaker 2>the goal is because you know, I'm looking at as

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<v Speaker 2>Tim mentioned, the start up about seventy percent or so

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<v Speaker 2>this week, a jump twenty one percent today, And I'm

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<v Speaker 2>curious that kind of can get the attention of investors

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<v Speaker 2>or other companies out there, is anybody calling you, reaching

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<v Speaker 2>out to you to talk about let's let's work together.

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<v Speaker 2>I think about you know, Lexotica, who's out there, who

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<v Speaker 2>is massive in the glass space. What is your goal?

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<v Speaker 2>You've got brands like ray Band that are out there.

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<v Speaker 2>You know, I think we all saw that. We thought

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<v Speaker 2>about former President Joe Biden who used to wear the

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<v Speaker 2>aviators as well. So what is the goal? Is ray

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<v Speaker 2>Band something that you'd like like? Is there a company

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<v Speaker 2>that you're thinking this is where? This is our goal

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<v Speaker 2>where we want to be And just got about forty

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<v Speaker 2>five seconds or so.

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<v Speaker 3>Yeah. Sure. So you know, our is a family company,

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<v Speaker 3>so working with me, I have my sister and my brother,

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<v Speaker 3>So is a family company. I am thirty nine years old,

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<v Speaker 3>so we are younger and I believe that we are

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<v Speaker 3>at the beginning to develop a company. We have started

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<v Speaker 3>only six years ago, so we are a small company.

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<v Speaker 3>Then you know the biggest one that is look Cetica

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<v Speaker 3>that you ever talked about it. So our idea is

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<v Speaker 3>to develop a different type of company after our position

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<v Speaker 3>of listing. We have made some M and A and

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<v Speaker 3>we buy some electronical companies and in the last year

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<v Speaker 3>we have presented the first tiwer technological one for blinding people.

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<v Speaker 3>So we have a patent project of that. And our

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<v Speaker 3>idea is like our name, Ivision Tech, so we want

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<v Speaker 3>to produce something technological. So we are following smart device

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<v Speaker 3>smart tiwere and I believe that in this field we

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<v Speaker 3>can do more. So we are a classical company to

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<v Speaker 3>produce Standard iWar but we have all the knowledge for that. Well.

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<v Speaker 2>As we said, the eyeglass is seen around the globe.

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<v Speaker 2>Really great to catch up with you. Thank you so

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<v Speaker 2>much for finding time for us, and have a good weekend.

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<v Speaker 2>Stefano full Chair is CEO of Ivision Tech, joining us

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<v Speaker 2>there from Italy.