Jay Jain

Hi sir. Thanks for the opportunity. Sir, I have 2 questions. First is with around 59% of the store network located in Tier 2 and 3 cities, do you see the premiumization strategy working equally well across this market? Or will premium stores be concentrated more towards Tier 1 high street mall locations?

Thanks for this. Sir, the second question would be, do we believe the current investment is primarily strengthening brand recall among existing customers or helping Mufti acquire a younger new customer base?

Thank you, sir, for the detailed answer.