Christian Dior Couture sales in decline by 1% in Q3
In the quarterly period from 1st January to 31st March 2016, according to a press release issued by the group, the haute couture and luxury ready-to-wear label saw its sales fall by 1% at current exchange rates, down to €429 million, while organic growth remained stable.
“Christian Dior Couture’s sales remained stable at constant exchange rates, despite the decrease in tourist inflows in Paris and in some Asian countries,” the label commented in the press release, confirming a trend towards slower growth also displayed by other brands within the LVMH group, such as Louis Vuitton.
In the first nine months of the fiscal year, from 1st July 2015 to 31st March 2016, Christian Dior Couture nevertheless held a steady pace, recording an 8% growth at current exchange rates (+3% in organic growth), and posting a revenue of €1.39 billion.
Christian Dior Couture is 100% owned by the Christian Dior Group, which in turn owns 40.9% of LVMH.
In the press release, the group summarised the market situation in the period, for all of its businesses: “The US market is dynamic. Europe is on a positive course, except for France, which is affected by a slump in tourism. Asian markets are erratic.”