Nike

12125.593 - 12151.286 Ben Gilbert

Historically, David, we've been a tech podcast and we've looked at lots of software businesses that have these 70, 80% gross margin businesses. You know, Nike has real costs, as you would expect with materials, labor, logistics, cost of storing all this inventory. 44%, not bad. Let's just remember luxury, right? LVMH is a 68% gross margin business. Hermes is a 71% gross margin business.