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Christian Dior group revenue grows 15% in FY19

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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)





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Germany aims to launch Singapore-style coronavirus app in weeks

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BERLIN — Germany hopes to launch a smartphone app within weeks to help trace coronavirus infections, after a broad political consensus emerged that adopting an approach pioneered by Singapore can be effective without invading people’s privacy.

Germans are deeply suspicious of digital surveillance, and the use of individual smartphone location data to track the spread of the pandemic would be illegal under national and European Union privacy laws.

But a fast-moving debate has yielded agreement across party lines that it would be useful and acceptable to track close-proximity Bluetooth ‘handshakes’ between smartphones.

That would resemble Singapore’s TraceTogether app, which records the recent history of such contacts on a device. Should the smartphone’s owner test positive for COVID-19, the respiratory illness the coronavirus can cause, that data could be downloaded so that contact-tracing teams can quickly get in touch with others at risk.

“We are confident we can release the solution in the next few weeks,” said the Fraunhofer Institute for Telecoms, Heinrich Hertz Institute (HHI).

The HHI, one of Germany’s institutes for applied research, said it was working with others across Europe to develop an app that would enable the proximity and duration of contact between people to be saved for two weeks on cell phones anonymously and without the use of location data.

“The prerequisite for such an application is full compliance with German data protection laws and usage on a voluntary basis,” the HHI said in response to a Reuters inquiry.

The Robert Koch Institute, which is coordinating Germany’s national coronavirus health response, welcomed the development work being done by the HHI but declined further comment.

PARADIGM SHIFT

The head of the Robert Koch Institute, Lothar Wieler, has warned that Germany is still at the beginning of the pandemic and its hospitals could find their capacity to treat patients exhausted. It has reported 57,298 coronavirus cases, with 455 deaths.

Health Minister Jens Spahn has called for an urgent debate on the use of smartphone technology to manage the coronavirus once containment efforts – which include school closures and bans on meeting in groups – have succeeded in ‘flattening’ the curve of new infections.

He has won support from the Social Democrats, the junior partner in Merkel’s coalition government, and the opposition Greens, traditionally strong advocates of data privacy.

Germany’s data protection commissioner, Ulrich Kelber, has supported the use of location and contact data shared on a voluntary basis, describing it as “incredibly useful.”

Privacy advocates see no inherent contradiction between smartphone tracking and data protection and say that, done the right way, such contact tracing can make a valuable contribution to containing the coronavirus.

“Rapid contact tracing is a central precondition for it to be possible to loosen the current lockdown in the foreseeable future,” academics Johannes Abeler and Matthias Baecker, and privacy campaigner Ulf Buermeyer, wrote for Netzpolitik.org https://netzpolitik.org/2020/corona-tracking-datenschutz-kein-notwendiger-widerspruch. (Editing by Timothy Heritage)



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HSN | Electronic Connection featuring Apple 03.29.2020 – 11 PM

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