PARIS — Christian Dior SA, the parent company of LVMH and Christian Dior Couture, said first-half operating profits grew 22 percent to $818.7 million. As reported, first-half sales rose 3 percent to $5.9 billion.
Dior Couture sales increased 44 percent to $209.5 million. House president Sidney Toledano said Dior had a strong July and August, and would register sales between $436 million and $485 million for the year.
Since the beginning of the year, Dior has opened 20 stores and plans to open another five by yearend, bringing its total to 41.
In other Dior news, Saks Fifth Avenue opened a new 500-square-foot Christian Dior boutique on the flagship’s main floor last Saturday. It’s the first shop to open as part of Saks’ newly designed accessories floor currently under construction. It also represents the first time Saks has carried Dior handbags and accessories. Sources at Dior said sales have been brisk so far with Street Chic, Fetish Chic and Saddlebags being top sellers.
This story first appeared in the September 13, 2002 issue of WWD. Subscribe Today.