$FILA.MI: A Real Pencil-Butt Investment
* Strong portfolio of over 20 brands, including Dixon Ticonderoga * Well positioned for tariff offsetting, with 22 factories spanning six continents * 26% stake in DOMS worth €396M, €91M of which is unrestricted * Art supplies brands less vulnerable to obsolescence than traditional stationery Thesis Founded in 1920 and best known for its