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A．After allB．ButC．On the other handD．Therefore
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Zegna has not been left unscathed by globalisation, an economic downturn and the capriciousness of fashion: sales fell by 8. 4% to 797m ($ 1. 1 billion) last year and net profits slumped to 17.3m from 62m in 2008. "Protecting cash became our primary objective, turnover and profits secondary," says Gildo Zegna, the chief executive and a grandson of the founder.
This year things look brighter: the firm hopes to achieve double-digit sales growth. Mr. Zegna and his cousin Paolo, the company's chairman, have been building on their fathers' decision to expand beyond weaving cloth. A generation ago bespoke tailoring declined as men increasingly bought off-the-peg rather than being measured for suits in the small tailors' shops that Zegna supplied. So in the 1960s the company moved into ready-to-wear suits. Later in the 1960s it added sportswear and accessories. In the 1980s Zegna began selling its own clothes and now it has 300 shops and 250 or so franchised stores. About 90% of sales come from abroad. On the way, the payroll has grown to over 7,000, although in Trivero it has fallen from some 1,400 in 1970 to 500 now.
Turning to the glitter of the male catwalk has helped Zegna survive when many of its peers perished. Off-the-peg its suits cost between € 1,500 and € 3,000, and made-to-measure ones an extra 20% or so. This attracts glitzy customers: George Clooney wears a Zegna suit in "The American", a new film about an assassin hiding in Italy.
One of Zegna's priorities will be to keep extending its distribution network, which has absorbed more than half of its average annual investment of around 50m over the past decade. Next year the firm will celebrate 20 years of selling in China, where its 91 shops now have sales exceeding those of the 14 it has in America; Italian sales rank third.
India is the next frontier. Zegna recently entered into a deal with part of India's Reliance Group to distribute clothes through a network of shops which their joint venture will set up. The first opened in Hyderabad in October; it will be followed by at least another nine by 2015.
Success as a global luxury brand depends on various factors. Mr. Zegna points to creativity—a team of around 50 young designers dreams up the styles—and to a meritocracy among employees. From sheep to shops, quality control is essential.
Each stage of production involves careful checks: at the wool mill, at the factory in Switzerland where suits have been made for decades, at, other plants in Italy, including a knitwear factory at Verrone, and at a couple of locations elsewhere in Europe. Stockrooms at Verrone are tightly controlled for temperature, humidity and light. Before being dispatched, each of the 130,000 items that leave Verrone each year is checked for faults on brightly illuminated plastic mannequins.
Zegna also has a niche upmarket women's brand called Agnona which it acquired in 1999, but has no big plans to expand it. The firm will remain private, family-owned and devoted to menswear. Mr. Zegna says the firm has enough money to expand, so there is no reason to go public. "We're working towards generational change, but I'm 55, my cousin is 54 and I don't see succession as an immediate issue," he says. With 11 members of the fourth generation now in their 20s and teens, Ermenegildo Zegna looks l
A．have knownB．knewC．knowD．will know
A new study of the brain is helping scientists better understand how humans process language. One of the patients is a woman with epilepsy(羊癫风). Doctors are【1】Denise Harris to see if she is a good【2】for an operation that could stop her seizures. They are monitoring her through wire electrodes【3】in her brain.
But【4】she is in the hospital, she is also helping scientists understand【5】the brain works with language. The study【6】a part of the frontal lobe called Broca's area. The electrode implants have shown that the area very quickly【7】three different language functions. Eric Halgren, one of the main investigators, says they found different【8】doing, at different times, different processes all【9】a centimeter. The first function deals with【10】a word. The second deals with understanding the word's meaning within a sentence.【11】the third lets us speak the word.
Ned Sahin, a researcher, says scientists【12】for some time that traditional explanations for how parts of the brain work need to be【13】. One such belief is that there is a【14】of language tasks between two very different parts of the brain. One is Broca's area【15】the front. The other is Wernicke's area【16】back in the brain. The belief is that Broca's area is【17】speaking and that Wernicke's area is responsible for comprehending.【18】the new study shows that Broca's area is【19】both speaking and comprehension. He says this shows how parts of the brain【20】more than one task.
(1)
Read the article below about cost.
Choose the best word to fill each gap, from A, B, C or D.
For each question 19—33, mark one letter (A, B, C or D) on your Answer Sheet.
There is an example at the beginning.
Cost as a Factor in Supply
In a purely competitive market, the supplier of goods and services has no control over the market price, because he produces too little to influence market conditions With no difference between his product and the products (19)…his competitors, he will sell nothing if he charges above the market price and he will sell all if he charges at or below the market price. However, in considering the price, he must take cost of production (20)… There are times when he may be willing to sell below his cost. This might happen when prices tumble for (21)… a short time. However, no business person can (22)…lose money for a prolonged(延长的)period. He must (23)…of his costs in relation to the market price if he is to compete successfully and earn a profit.
Many people have the impression that (24)…production increases, costs per unit decrease. (25)…mass production has made this true in certain industries and at certain levels of production, (26)…logic and practical experience have shown that costs per unit begin to rise beyond a certain level of production. Some economists (27)…this principle as the law of increasing costs.
The reason why (28)…rise as production goes up is complex. However, it is easy to recognize that as production goes up, the need for additional factors of production will also grow, resulting (29)…competitive bidding(出价)in the marketplace for the factors of production. If a producer needs (30)…skilled labour to produce more, and none of this labour is unemployed, the producer will have to get (31)…from other sources. This can be done by (32)…higher wages. Higher bidding would also apply to the other factors of production. We must also recognize that not all labour is equally productive, (33)…not all land is equally fertile(肥沃的)and not all ore is equally rich in the mineral wanted.
(19)
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