Christian Dior posts full-year sales up 8%

Christian Dior has posted revenue up 8% to €38bn for the year ending 30 June 2016. Profit from recurring operations was also up by 8% at €6.8bn.

Couture revenue was up 5% at €1,854m at constant exchange rates while fashion and leathergoods (which includes ready to wear) was also up 5% at €12,321m. Perfume and cosmetics revenue jumped 10% to €4,780m while watches and jewellery were also up by 10% at €3,365m.

The group said highlights of the second half of the financial year included strong momentum in the US and continued growth in the European market. It also pointed to a strong performance in Couture and said local customer growth had limited the impact of a fall in tourist traffic, which has hit the European luxury fashion industry across the board this year.

Christian Dior also highlighted its optimism for the new leadership at the Dior brand. Former Valentino joint creative director Maria Grazia Chiuri has joined Dior as chief designer, following the surprise departure of Raf Simons at the end of last year, and is the first woman in the brand's history to hold the post. The new leadership "will combine its artistic vision with the excellence of the maison’s savoir-faire", the company said.

Maria Grazia Chiuri

Despite the uncertainty in the market due to currency fluctuations and instability in Europe due to falling tourism as a result of recent terrorist activity, the group said it would "continue to gain market share" thanks to upcoming product launches and expansion into promising markets

"Our strategy of focusing on quality across all our activities, combined with the dynamism and unparalleled creativity of our teams, will enable us to further reinforce, once again, the group’s global leadership position in luxury goods," it said.

Christian Dior reports its results separately from the LVMH Group, in which it owns a 40.9% shareholding. Luxury group LVMH released its figures earlier this week.