5 hours ago | By Alice Gividen
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Christian Dior SA enjoyed a strong fiscal Q1 with sales up 6% to €7.8bn and organic growth of 4%. While the biggest chunk of those sales came from its subsidiary LVMH, the Dior brand itself was buoyant. Christian Dior Couture saw its sales rising 13% to €417m ($553m) in the three months to end-September. Growth was strong in all regions, even Asia where many luxury brands have seen a slowdown. Sales at directly operated stores – which accounts for most of the brand’s revenue – rose 16%, currency-neutral. Meanwhile, for the year ended June 30, Christian Dior saw net income of €1.425m, operating income of €6.05m and net sales approaching €31bn. Dior CEO Sidney Toledano told WWD that key products for the Dior brand included the successful launch of the Be Dior handbag that was advertised by Jennifer Lawrence, while Lady Dior and Diorissimo continued to sell strongly. He also said Raf Simons’ pre-fall and autumn/winter collections had received a good response, while the Archi Dior fine jewellery collection by Victoire de Castellane has been a success. Toledano added that growth was strong in the US and that Asia and Europe also performed well, with Europe driven by tourist sales in Paris, Milan and London. Asia proved resilient, despite a crackdown on luxury spending in China. However, Hong Kong’s pro-democracy demonstrations have affected business in recent weeks….
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