CHRISTIAN DIOR Group registers record growth of 81% in its net income
The Christian Dior luxury holding giant said Friday net income surged 81 percent in 2010 from the previous year, an "exceptional year" that has given the group fresh impetus to open new stores. Christian Dior is the holding group that controls the French luxury products giant LVMH, with interests from champagne to luggage, and of the Christian Dior Couture fashion label.
The group said net income had amounted to 1.26 million euros last year. Revenue rose 19 % to 21.12 billion euros from the previous year.Dior said it would continue to open new stores and renovate existing ones in "markets that have strong potential," adding that all continents showed positive results.
Earlier in the day luxury retailer LVMH said that strong demand for its champagnes and Louis Vuitton leather bags helped it make a 73 %leap in full-year profit. Annual net profit rose to 3.03 billion euros from 1.76 billion euros a year earlier, when many affluent consumers were spooked by the financial crisis.