PARIS — Raf Simons’ modernist makeover at Dior keeps winning converts.
The French fashion house reported revenues advanced 12.6 percent to 437 million euros, or $545.8 million, in its second quarter ended Dec. 31, outpacing many of its luxury rivals.
Dior chief executive officer Sidney Toledano cited “very strong double-digit growth” and “excellent” sellout of fashion designs by its Belgian couturier. “The cruise collection, the one we presented in Brooklyn, was a big success everywhere,” he said in an interview.
The company also cited dynamism across its leather goods, accessories and jewelry collections, with all regions contributing to this “robust” growth.
Profit from recurring operations in the first half gained 11.1 percent to 120 million euros, or $154.5 million. Dollar figures are converted from euros at average exchange rates for the periods in question.
Toledano trumpeted a “very good December” and cited a number of standout products, including Diorissimo and Be Dior handbags, the latter fronted in advertising by actress Jennifer Lawrence; Fusion embroidered sneakers; Tribal pearl earrings; the Archi Dior high jewelry collection by Victoire de Castellane; and men’s fashions and accessories under designer Kris Van Assche.
“The only category that’s been responding less is the watches, which reflects the situation across the market,” he noted.
Toledano cited strong momentum in the U.S. market, and Japan, where Dior staged its pre-fall show last December in tandem with an “Esprit Dior” exhibition that welcomed 160,000 visitors. “Since the show, we’re seeing a very strong and positive reaction to the brand by the Japanese,” he said.
Meanwhile, he characterized business in Europe as “good” and noted “we are positive with the evolution of China.…All the markets had a very good last quarter and the full year.”
Asked about 2015, he said, “we’re confident,” mentioning a string of new boutiques in development, including ones in Vancouver, San Francisco, Las Vegas, Miami, Seoul, Frankfurt and Düsseldorf.
Dior said profits for calendar year 2014 gained 23 percent to 203 million euros, or $269.8 million, while revenues rose 13.2 percent to 1.6 billion euros, or $2.13 billion. At constant exchange rates, the revenue gain stood at 14 percent, Dior said.
Dior’s performance was revealed as part of the results of Christian Dior SA, the holding company for LVMH Moët Hennessy Louis Vuitton and the Dior fashion house.
LVMH released its results on Feb. 3, reporting a 10 percent jump in fourth-quarter revenues. This compared to a 4 percent gain in the same period at Compagnie Financière Richemont and an 11.8 percent pace at Hermès International. Kering is set to publish its results on Feb. 17.
Dior changed the closing date of its fiscal year to June 30 in 2013, putting its reporting cadence slightly out of sync with sister company LVMH.