Christian Dior reports encouraging financials
Christian Dior SA, which owns luxury giant LVMH, 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 sales increased 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. For the year ended June 30, Christian Dior saw net income of €1.425m, operating income of €6.05m and net sales approaching €31bn.
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.