Licensees 53,116,358 73,150,000 90,560,000 104,100,000 102,400,000 DOSSIN ADVISORY EFTA00521869 Economic Size of the Brand much Larger than Current Company's Revenue Summary of Royalties Revenue me tal ungaro (Eur) 2,009 2010E 2011E 2012E 2013 E EUROPE USA CHINA : U by Ungaro TOTAL WOMEN READY