Of course China is an important new market for Tod's, and of course we need to succeed commercially. But I believe the way to do that is not to aim to deliver results in the short term by thoughtless expansion, but instead to explain to the Chinese people what our brand is really about.

Put a compass to paper and trace a circle. Then tell me which other country has such a concentration of places like Amalfi, Naples, Ischia, Procida, Sorrento, Positano, Pompeii, and Capri.

Businessmen should not put their finger in politics, because they tend to think only of their own self-interest. But I worry about the low morale in Italian industry and the lack of government initiatives to help the poor.

The boom for luxury goods is unending. There are people who never have to worry about whether they can afford something they like. In one part of the world or another there will always be someone with money to spend on luxury.