PARIS — Christian Dior Couture has become a $2 billion baby.
This story first appeared in the February 12, 2016 issue of WWD. Subscribe Today.
The French fashion house closed out 2015 with revenues of 1.87 billion euros, or $2.08 billion, reflecting a gain of 17.1 percent at actual exchange rates and 7 percent at constant rates.
Operating profits for the full year jumped 20.6 percent to 240 million euros, or $266.3 million.
Dollar figures are converted from euros at average exchange rates for the periods in question.
The company trumpeted “dynamism” in leather goods, ready-to-wear, accessories and jewelry in its fiscal first half, which ended Dec. 31, 2015.
Retail revenues in the six-month period grew 15 percent at actual exchange and 6 percent at constant rates, while operating profits rose 12.5 percent to 135 million euros, or $149 million.
For the three months ended Dec. 31, revenues climbed 12.1 percent to 490 million euros, or $536.2 million. In organic terms the increase stood at 4 percent versus a 5 percent pace in the previous quarter ended Sept. 30.
Dior’s results closely echo those of LVMH, which cited a 12 percent revenue gain in the fourth quarter and a 5 percent increase in organic terms.
Dior chief executive officer Sidney Toledano was not available to comment on the figures, but he had signaled consumer enthusiasm for the modernist women’s wear of Raf Simons, who exited as Dior’s couturier last October. The spring 2016 collection was his last, and Dior is relying on an in-house team while it plots the appointment of a new creative director for its women’s collections.
Dior’s team, headed by studio directors Serge Ruffieux and Lucie Meier, designed the spring 2016 couture and are to head up the fall 2016 collection to be paraded on March 4 during Paris Fashion Week.