1 hour ago | By Sandra Halliday
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Christian Dior is riding high after a bumper finish to the year, with demand for artistic director Raf Simons and his team’s designs leading to a 34% rise in profits to €106m ($118.4m) in Q4.
Revenues in the six months to June 30 also increased 22% to €911m ($1.02bn), which is a 9% improvement at constant exchange rates.
The company is crediting the growth to high demand for artistic director Raf Simons’ women’s haute couture, ready-to-wear and accessory collections.
Double-digit sales growth was seen for ready-to-wear during the same period, while leather goods also saw a significant rise; largely attributed to sales of the Diorama, which was marketed with a campaign fronted by Rihanna.
Dior also enjoyed a 23% rise in sales for its fiscal Q4 ending June 30, to €478m ($528.7m). The opening of its largest flagship store in Seoul, South Korea, as well as its “Esprit Dior” exhibition in the same city has aided that growth, as well as additional openings in Düsseldorf, Frankfurt and Vancouver. Further US stores are set for the rest of 2015 in San Francisco, Houston and Washington DC.
For its full 2014-15 fiscal year, the luxury brand’s sales grew 18% to hit €1.76bn ($2.12bn). That’s at actual exchange rates and 10% stripping out the impact of currency fluctuations. Full-year profits from recurring operations grew 21% to €226m ($272m).
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