BOREAL SA

The company's purpose is to carry out, mainly abroad, all operations in the fields of fashion, clothing and textiles, in particular the import, export, distribution, manufacture, styling, purchase and sale of clothing, shoes and fashion accessories. It may carry out all commercial, financial, movable or immovable transactions directly or indirectly related to its purpose. The company may in particular grant loans to its shareholders or to third parties, hold participations and create branches in Switzerland and abroad, acquire companies with a similar purpose, or merge with such companies, carry out all operations and conclude all contracts intended to develop and expand its purpose directly or indirectly.