The Christian Dior group, a French luxury goods company, recorded 15 per cent increase in its revenue to €53.7 billion in FY19 compared to $46.9 billion in FY18. Revenue growth in the fourth quarter (Q4) that ended on December 31, 2019 was 12 per cent compared to the same period in FY18. Organic revenue increased 8 per cent for the quarter.
Organic revenue growth was 10 per cent. Europe and the United States reported good growth over the year, as did Asia, despite a difficult environment in Hong Kong in the second half of 2019, company reported.
Profit from recurring operations increased 15 per cent to €11.5 billion in 2019, compared to an already high level in 2018. Current operating margin reached a level of 21.4 per cent. Group share of net profit rose 14 per cent to €2.9 billion.
The fashion & leather goods business group reported to achieve organic revenue growth of 17 per cent in FY19. Profit from recurring operations was up 24 per cent. Louis Vuitton reportedly delivered good performance, to which all businesses and all clientele contributed. Iconic lines and new creations contributed in a balanced way to revenue growth.
The wines & spirits business group reportedly achieved 6 per cent organic revenue growth. Profit from recurring operations increased 6 per cent.
The perfumes and cosmetics business group reported 9 per cent organic revenue growth, driven by the remarkable momentum of its major brands, notably Dior, Guerlain and Givenchy. Profit from recurring operations grew 1 per cent after taking into account an exceptional depreciation of the product lines of certain young American brands.
The watches and jewellery business group organic revenue increased 3 per cent. Profit from recurring operations grew 5 per cent. The agreement with Tiffany & Co was reported to be the strategic highlight of the year. Bvlgari continued to perform well and continued to increase its market share.
The selective retailing business group’s organic revenue grew 5 per cent. Profit from recurring operations increased 1 per cent. Sephora reportedly had strong growth and continues to gain market share. Group reported that the growth was particularly strong in Asia and the Middle East. Online sales grew rapidly throughout the world.
Fibre2Fashion News Desk (JL)