Kitty, MYR and DJS would not be interested in Oroton. It would...

Kitty, MYR and DJS would not be interested in Oroton. It would work against their other concessions.

The key for Oroton is to make those international stores profitable or pull out. The leases are critical because pulling out of the leases can be prohibitively expensive. The leases were signed in Sally Macdonald's day and she's gooone. We don't know what gems are in those lease contracts so ORL may have to plow on with the international stores no matter what - not a good situation to be in. One bonus is that when you own an Oroton bag you know it's genuine whereas in Asia owning a Louis Vitton may mean you spent $20.

GAP is a different business model than Oroton. Oroton is High value/low volume versus GAP's low value/high volume - two quite different business operations under the one organisation. It seems to me there would be less synergies than one would like at head office.

Still some headwinds for ORL but certainly on the right track and divi's are the key to a re-rated SP in this sector.