• Christian Dior: Growth continues at the same pace

    来源: Nasdaq GlobeNewswire / 11 10月 2022 13:13:22   America/New_York

    Growth continues at the same pace                                 

    Paris, October 11, 2022

     

    The Christian Dior group recorded revenue of 56.5 billion euros in the first nine months of 2022, up 28% compared to the same period of 2021. Organic revenue growth was 20%. In the third quarter, organic revenue growth was 19%, in line with the trends observed in the first half of the year.

     

    Europe, the United States and Japan, up sharply since the start of the year, benefitted from the solid demand of local customers and the recovery in international travel. Asia (including China) saw a lower level of growth over the first nine months of 2022, though growth in the latest quarter accelerated there due to the partial easing of health restrictions.

     

    Revenue by business group:

    Euro millions9 months 20219 months 2022Change

    2022/2021

    First 9 months
    Published Organic*
    Wines & Spirits4 2515 226+ 23 %+ 14 %
    Fashion & Leather Goods21 31527 823+ 31 %+ 24 %
    Perfumes & Cosmetics 4 6685 577+ 19 %+ 12 %
    Watches & Jewelry6 1607 575+ 23 %+ 16 %
    Selective Retailing7 79510 095+ 30 %+ 20 %
    Other activities and eliminations(12)189--
    Total44 17756 485+ 28 %+ 20 %

    * with comparable structure and exchange rates. The structural impact for the Group compared to the first nine months of 2021 was zero and the currency effect was +8 %.

     

    The Wines & Spirits business group recorded revenue growth of 23% over the first nine months of 2022 (14% in organic). The Group's Champagne Maisons enjoyed excellent momentum, which increased pressure on supplies. Growth was particularly strong in Europe, the United States and Japan. Hennessy cognac was driven by its consistent strategy of value creation. The firm policy of price increases across all regions offset the effects of the logistical disruptions in the United States and the impact of health restrictions in China. Moët Hennessy strengthened its global portfolio of exceptional wines with the acquisition of the Joseph Phelps vineyard, one of the most renowned wine properties in Napa Valley, California.


     

     

     

    The Fashion & Leather Goods business group recorded revenue growth of 31% in the first nine months of 2022 (24% in organic). Louis Vuitton shined again, driven as ever by an exceptional creativity and the quality of its products. The latest ready-to-wear fashion shows, designed for women by Nicolas Ghesquière, enjoyed a tremendous reception. Many new products were unveiled, in leather goods notably, as well as in watches. The Tambour Twenty collector's watch, embodied by Bradley Cooper, ambassador of the Maison was immediately out of stock. Christian Dior continued to achieve remarkable growth in all its product lines. After three years of renovations, the historic birthplace of the Maison at 30 Avenue Montaigne in Paris, which reopened at the start of the year to offer a new vision of the Maison Dior, has been overwhelmingly successful. Celine saw very strong growth resulting from the success of Hedi Slimane’s creations, as did Loewe, driven by the strong creativity of J.W.Anderson. Loro Piana maintains good momentum. Fendi, where Kim Jones brings his talents to the Maison, celebrated the 25th anniversary of its iconic Baguette bag with an exceptional fashion show in New York.

     

    With revenue growth of 19% (12% in organic) over the first nine months of 2022, the Perfumes & Cosmetics business group maintained its highly selective distribution strategy. Parfums Christian Dior enjoyed a remarkable performance, strengthening its lead in all its key markets. Perfumes grew sharply due to the continued success of Sauvage, Miss Dior and J’adore, further strengthened by its latest creation Parfum d’Eau. Dior Addict in makeup and Prestige in skincare also contributed to the Maison’s rapid growth. Guerlain continued to grow, due in large part to the vitality of its Abeille Royale skincare line, its Aqua Allegoria collection and its exceptional perfume line l’Art et la Matière. Parfums Givenchy benefitted from the continued success of its fragrances. The Stella skincare line by Stella McCartney was launched using an innovative environmental approach, originating from the Group Beauty R&D center.

     

    The Watches & Jewelry business group recorded revenue growth of 23% (16% in organic) in the first nine months of 2022. Tiffany & Co. was driven by strong momentum in the United States. The “Vision & Virtuosity” exhibition at the Saatchi Gallery in London, celebrating the 185th anniversary of the House, was a great success. The new collection of Lock unisex bracelets was rolled out in North America. Bulgari continued to strengthen its iconic collections. Its new high jewelry and watch line Eden: The Garden of Wonders was showcased in Shanghai and Beijing, and the Maison’s jewelry creation and manufacturing talent were revealed in the film “Inside the Dream”. Chaumet's "Végétal" exhibition celebrated nature over the course of the summer in Paris. Fred opened its first retrospective exhibition at the Palais de Tokyo in Paris, which is a huge success. In the watch business, TAG Heuer unveiled its new Caliber E4 - Porsche Edition smart watch and Hublot continued the countdown to the 2022 Football World Cup as its official timekeeper.

    In Selective Retailing, revenue growth was 30% (20% in organic) in the first nine months of 2022. Sephora enjoyed excellent performance with a strong rebound in its in-store activity. Momentum was particularly strong in North America, France and the Middle East. Sephora's omnichannel strategy received further investment with the aim of continuously improving the shopping experience of its customers both online and in-store. DFS for its part was affected by the persistent lack of travel, owing to ongoing health restrictions in Asia.


     

    outlook

     

    Against an uncertain geopolitical and economic backdrop, the Christian Dior group is confident in the continuation of current growth and will maintain a policy of cost control and selective investment. The Group’s strategy will remain focused on continuously strengthening the desirability of its brands, by relying on the authenticity and quality of its products, the excellence of their distribution and the reactivity of its organization.

    The Group is counting on the dynamic nature of its brands and the talent of its teams to further strengthen its global leadership position in luxury goods once again in 2022.

    Apart from the items mentioned in this press release, there have been no events or changes during the quarter that could significantly affect the Group's financial structure.

    This financial release is available on our website www.dior-finance.com.


     

     

    ANNEX

     

    Christian Dior group – Revenue by business group and by quarter

    2022 Revenue (Euro millions)
    2022

         		Wines & SpiritsFashion & Leather GoodsPerfumes & CosmeticsWatches & JewelrySelective Retailing Other activities and eliminationsTotal

     
    First quarter1 6389 1231 9052 3383 040(41)18 003
    Second quarter1 6899 0131 7142 5703 59114918 726
    First half3 32718 1363 6184 9096 63010936 729
    Third quarter 1 8999 6871 9592 6663 4657919 755
    First nine months5 22627 8235 5777 57510 09518956 485
    2022 Revenue (organic growth compared to the same period of 2021)
    2022

         		Wines & SpiritsFashion & Leather GoodsPerfumes & CosmeticsWatches & JewelrySelective Retailing Other activities and eliminationsTotal

     
    First quarter+ 2 %+ 30 %+ 17 %+ 19 %+ 24 %-+ 23 %
    Second quarter+ 30%+ 19 %+ 8 %+ 13 %+ 20 %-+ 19 %
    First half+ 14 %+ 24 %+ 13 %+ 16 %+ 22 %-+ 21 %
    Third quarter + 14 %+ 22 %+ 10 %+ 16 %+ 15 %-+ 19 %
    First nine months+ 14 %+ 24 %+ 12 %+ 16 %+ 20 %-+ 20 %
    2021 Revenue (Euro millions)
    2021

         		Wines & SpiritsFashion & Leather GoodsPerfumes & CosmeticsWatches & JewelrySelective Retailing Other activities and eliminationsTotal

     
    First quarter1 5106 7381 5501 8832 337(59)13 959
    Second quarter1 1957 1251 4752 1402 7482314 706
    First half2 70513 8633 0254 0235 085(36)28 665
    Third quarter 1 5467 4521 6422 1372 7102515 512
    First nine months4 25121 3154 6686 1607 795(12)44 177

     

    As table totals are calculated based on unrounded figures, there may be slight discrepancies between these totals and the sum of their component figures.

     

     

    “This document may contain certain forward looking statements which are based on estimations and forecasts. By their nature, these forward looking statements are subject to important risks and uncertainties and factors beyond our control or ability to predict, in particular those described in Christian Dior’s Annual Report which is available on the website (www.dior-finance.com). These forward looking statements should not be considered as a guarantee of future performance, the actual results could differ materially from those expressed or implied by them. The forward looking statements only reflect Christian Dior’s views as of the date of this document, and Christian Dior does not undertake to revise or update these forward looking statements. The forward looking statements should be used with caution and circumspection and in no event can Christian Dior and its Management be held responsible for any investment or other decision based upon such statements. The information in this document does not constitute an offer to sell or an invitation to buy shares in Christian Dior or an invitation or inducement to engage in any other investment activities.”

     

     

     

    This document is a free translation into English of the original French financial release dated October 11th, 2022.

    It is not a binding document.

    In the event of a conflict in interpretation, reference should be made to the French version, which is the authentic text.

     

     

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