Hello, sir. Thank you for the questions. I wanted to know, understand how is our plans on store openings on geography or region-wide? What sort of target areas are we looking at? And then in the newly opened stores, in like Tier 3 and beyond, what are you looking at the trends there? I mean, is it like floats and EVAs working there? Or is it like sneakers and power working out there?
Yes, no, I was coming more on the geography which sort of geographies are we talking about?
Thank you for the opportunity, sir. So my question is, I wanted to understand our strategy and initiatives on Tier 2s and beyond. So I do understand our renovations and sneaker studio launches and pre-management for Tier 1. But how are we looking to grow in Tier 2s and beyond?
That's very heartening to hear. I just wanted to understand that just to get the number right, in Tier 2 and beyond or Tier 3 and beyond, our A SPs would be roughly, or most of the products would be open footwear? Or how would that mix be?
Thanks for the opportunity, sir, and many congratulations on a good set of numbers. Sir, I wanted to ask on what is the raw material strategy on rubber side and how do we -- I mean, how is the sort of mix between spot and sort of the contract and how has this evolved over last few quarters?
Okay. And in recent quarters, have we seen any softening in rubber prices?
Thank you for the opportunity, sir. Sir, my -- the first question revolves around MMR market. So as you also highlighted that you're looking for some land parcel in the key areas . So my question is how do you see given there's a lot of projects coming up, a lot of demand also there, but a lot of supplies are coming up. So how do you estimate that demand supply going ahead?
Another question was on paper. So earlier, I guess our guidance stood at 15% operating margins in the division. Currently, we are at 5%. We understand the current issues. And then what's the outlook ahead for FY '25?