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PARIS – Citing strong sales of ready-to-wear, fine jewelry and iconic handbags, Christian Dior said fourth-quarter sales gained 9 percent at constant exchange, to 216.4 million euros, or $313.5 million, while operating profits jumped 32 percent to 74 million euros, or $101.4 million at average exchange.
“The year was excellent, in spite of the exchange rates,” said Sidney Toledano, Dior’s president and chief executive officer. “We are confident.”
For the full year, revenues rose 8 percent to 787 million euros, or $1.08 billion. At constant exchange, the increase stood at 12 percent.
Toledano credited Dior’s 60th anniversary celebrations – marked by a blockbuster couture event at Versailles last July, and a September birthday party feting the revamped Paris flagship – and an ongoing upscaling effort for boosting the brand’s fortunes.
“We’re focusing on more expensive products, meaning higher prices in all product categories,” Toledano said. He also cited a return to Dior’s roots, reflected in “sophisticated” and “elegant” designs by couturier John Galliano. The fall collection posted “very strong double-digit” growth and the cruise collection has also been “a big success,” Toledano said.
For complete coverage, see Tuesday's WWD.