Eric Speron, Managing Director and Portfolio Manager at First Foundation, shares his insights on Lagardere SA, an international group with diverse operations. He highlights the upcoming spinoff from Vivendi, exploring its implications. The discussion dives into the financial potential of Lagardere's publishing and travel retail sectors, emphasizing growth opportunities and market dynamics. Speron also examines the unique challenges faced in the evolving landscape of book publishing and airport retail, showcasing his investment thesis for savvy stakeholders.