So what does point 2 actually mean for us? Forgive my non-native English or my lack of exact context, but some of this seemed cryptic to me, so could you please help me understand it based on the following?

1. «Double» down? As in the rate at which they have increased prices wasn’t speedy or high enough?

2. What is it that really defines «luxury timeless tech»? Modular/Mozart/Cradle-to-Cradle with more longevity, which is more expensive on its own and as such I accept it (the «timeless tech» bit) BUT combined with their pricing strategy and what kind of brand they see themselves as it’s going to be even tougher pricing moving forward because of the word «luxury»?

3. What is this «strategic acceleration»? Implement more similar flagships like in Mayfair around the world?

4. Can you elaborate on «jam tomorrow»? Meaning getting a real picture in a year following the upcoming Q4 results?

5. In what way do you mean we should be patient? What results are we hoping for?

6. Most importantly, is the CEO succeeding after all?

For clarity, management did not use the term double down, thats just my linguistic turn of phrase.

But outside of updating investors of the full year realised numbers, their big point in the presentation was raising new equity capital specifically in order to speed up the transition from where they were (lets say 3+ years ago) to where they want to get to.

A big part of this transition is transforming their consumer facing retail network - s0 alot of multi-brand points of sale have gone, the target global cities identified, flagships will be opened in many, underperforming (non-Tier 1) franchises will be removed so they remaining ones are top notch, all of which is directed at ensuring high levels of service.

What does it mean for customers? Well just more of what we've seen in recent years, they're just speeding up the above transformation.   They did mention that they'll continue to lean into luxury pricing, which has already been part of the strategic transformation, and will be continually assessing (ensuring?) that products are at luxury levels.

My point about patience was more one for investors - whom the update was directed at after all.  The network transformation is  not cheap, does have some near term earnings implications, but they see it paying off (earnings growing again) down the road. Investing for the future, hence patience.   ** Jam tomorrow is a bit of an English saying, generally used as a sceptical take on when someone is always promising better days ahead.

franchises will be removed so they remaining ones are top notch, all of which is directed at ensuring high levels of service.

That's going to be completely useless if they don't up their game in software development. Which is (app and devices firmware) arguably one of the things that - compared to a few years ago - now has dramatically fallen downhill In other words: B&O leadership continues being completely clueless.