Christian Dior posts Q1 FY20 sales of €10.6 billion

11 May '20

2 min read

Pic: Christian Dior

The Christian Dior Group, a French luxury goods company, posted 15 per cent decrease in net sales to €10.6 billion in first quarter (Q1) FY20 compared to sales of €12.5 billion in same period prior year. Sales of Fashion & Leather Goods fell 9 per cent to €4.6 billion (Q1 FY19: €5.1 billion) affected by store closures in several regions around the world.

However, online sales of Fashion & Leather segment reported a rapid growth. Louis Vuitton and Christian Dior, in particular, continued to show creative momentum, as illustrated by the latest runway shows and continuous enhancements to their iconic products. The other brands continued the efforts to strengthen their resilience. Company reported that the manufacturing sites of the group's Maisons are preparing to reopen with maximum safety conditions for employees following the suspension of activity in mid-March.

Sales of Wines and Spirits decreased 13 per cent to €1.1 billion (Q1 FY19: €1.3 billion). Perfumes & Cosmetics sales dropped 18 per cent to €1.3 billion (Q1 FY19: €1.6 billion). Selective Retailing sales were down by 25 per cent €2.6 billion (Q1 FY19: €3.5 billion).

In a very turbulent context, the group reported that it will maintain a strategy focused on preserving the value of its brands, based on the exceptional quality of its products and the responsiveness of its teams.

Fibre2Fashion News Desk (JL)

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