PARIS -- Christian Dior Couture SA posted a 3 percent rise in net profit in 1993, to $21.4 million (116 million francs). In 1992, net profit for the fashion house was 113 million francs.
Dior president and controlling shareholder Bernard Arnault told shareholders at its annual meeting that the modest increase was due to lower short-term interest rates and the absence of exceptional foreign exchange gains.
Christian Dior Couture -- which includes haute couture, direct and wholesale ready-to-wear and accessories sales and licensing revenue, but not Parfums Christian Dior -- had a 9 percent rise in consolidated sales, to $149.7 million (811 million francs). Revenues in 1992 came to 748 million francs.
Breaking down turnover into its three main categories, Dior reported that licensing income rose 6.1 percent, to $60.7 million (328.8 million francs); wholesale sales advanced 14.6 percent, to $48.2 million (261 million francs), while retail sales, including couture, improved 7.3 percent, to 41.8 million (226.2 million francs). The company did not provide a separate figure for couture.
Christian Dior SA, the holding company that controls Christian Dior Couture, posted a 9 percent increase in net income, to 161.7 million (876 million francs), earned on a 9.9 percent rise in sales, to $4.5 billion (24.6 billion francs). Christian Dior SA indirectly controls the luxury goods conglomerate LVMH Moet Hennessy Louis Vuitton, whose sales are consolidated into Dior's accounts.
In a related development, another Arnault holding company, Au Bon Marche, announced it will subscribe to half of a forthcoming capital increase by Dior of around $738 million to $923 million (or roughly 4 billion to 5 billion francs). The planned increase in capital was announced this spring when Arnault reorganized LVMH's relationship with British brewer and spirits company Guinness, in which the luxury group has a 20 percent stake.
In order to finance Au Bon Marche's participation in the Dior capital increase, the company plans to sell leather goods and fashion house Celine to LVMH in September -- the latest shuffle in Arnault's corporate empire. Celine is expected to cost LVMH around $332.3 million (1.8 billion francs).
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews