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Hamburg, October 2012
To Who it May Concern
Recommendation Letter Aude Bousser
Mrs. Aude Bousser, Founder & Managing Director of LBB Asia Ltd., has supported EQT
Partners in their advisory efforts to the EQT VI Funds during the acquisition process of
Vertu from Nokia Oy during February to June 2012.
Vertu is the leading global luxury mobile phone producer and generated revenues of
EUR 266m in 2011.
Mrs. Bousser and her company were an integral part in our efforts to assess the
market potential for luxury mobile phones and the brand strength of Vertu, with a
particular focus on the Greater China market. Mrs. Bousser supported us during the
due diligence process for the company, which included among others attending
management presentations, preparing analyses on the current market perception of
Vertu and organizing store visits to existing Vertu stores in Greater China.
Due to Mrs. Bousser’s long-standing experience in the Greater China region and her
deep knowledge of the European and Asian luxury goods markets, with a focus on hard
luxury, she provided very valuable insights to the luxury market analysis of the due
diligence process, for instance, by offering very helpful insights into the luxury
purchasing behavior of Chinese customers or pricing strategies of luxury goods
companies across different markets.
We thank Mrs Bousser for her excellent support during the project and wish her all the
best for her future engagements. We would be very happy to work with her again in
relation to luxury goods opportunities.
Kind regards
Sumeet Gulati