PARIS — Christian Dior Couture posted organic revenue growth of 12 percent in the three months to Dec. 31, compared with 8 percent in the previous quarter, confirming signs of a recovery in the beleaguered luxury sector.
The Paris-based fashion house posted sales of 541 million euros, or $583.5 million, in its fiscal second quarter, up from 490 million euros, or $536.8 million, in the same period a year earlier. The company’s financial year exceptionally ran from July 1 to Dec. 31, 2016, as it will move back to reporting in line with the calendar year in 2017.
The Christian Dior group, which includes Christian Dior Couture and LVMH Moët Hennessy Louis Vuitton, said it was well-equipped to continue growing in 2017 despite a climate of geopolitical and currency turmoil.
Related Articles
“Driven by the agility of its teams, their entrepreneurial spirit and the balance of its different businesses and geographic diversity, the Christian Dior group enters 2017 with caution but has, once again, set an objective of increasing its global leadership position in luxury goods,” the company said.
You May Also Like
This echoed comments made by LVMH chairman and chief executive officer Bernard Arnault when LVMH separately published its annual results on Jan. 26.
Christian Dior Couture, which encompasses the brand’s apparel, accessory and jewelry businesses — the perfume and cosmetics lines are exercised under the umbrella of LVMH — reported a 33 percent rise in operating profit to 178 million euros, or $195.3 million, for the period between July 1 and Dec. 31.
During the abridged financial year, the company logged revenues of 1.04 billion euros, or $1.14 billion, an increase of 9 percent in reported terms and 10 percent at constant exchange rates.
In the 2016 calendar year, Christian Dior Couture registered sales of 1.94 billion euros, or $2.14 billion, up 3 percent at actual exchange rates and up 5 percent in organic terms compared to 2015.
Retail sales revenue rose 5 percent at constant exchange, and profit from recurring operations was 252 million euros, or $278.8 million, up 5 percent. All dollar rates are calculated at average exchange rates for the period concerned.