PARIS -- Two holding companies within Bernard Arnault's luxury goods empire reported gains in consolidated sales for 1993.
The Au Bon Marche holding reported a 9.7 percent increase in sales, to $4.7 billion (27.59 billion francs) at current exchange rates. Had the group not changed structure during the year, sales would have risen 7.1 percent.
Au Bon Marche is 58 percent owned by Financiere Agache, Arnault's personal investment company. Through Agache and Au Bon Marche, Arnault controls LVMH Moet Hennessey Louis Vuitton, Christian Lacroix, Christian Dior SA and Celine.
The luxury businesses under Au Bon Marche registered a 9.1 percent sales gain, to $4.3 billion (25.3 billion francs). Sales from real estate and retail activities rose 15.9 percent, to $385.3 million (2.26 billion francs). The rise was attributed mainly to the Groupe George V unit, whose revenues were integrated into Agache's starting in July 1992.
At Christian Dior SA, the second Arnault holding reporting 1993 sales, the gain was 10 percent, bringing revenues to $4.2 billion (24.6 billion francs). Revenues at Dior comprise the consolidated sales of LVMH and Christian Dior Couture.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"