Luxury Brand Dior Grew By 8% In The First Quarter

Dior Dior, founded in 1946 by French fashion designer Christine Dio (Christian Dior) in Paris, has been constantly innovating in its brand design, but has always maintained a noble and elegant style and taste.

Recently,

Announces its first quarter financial results for the 2017 fiscal year, and with the strong performance of the group in the third quarter, Dior also recorded a 7% year-on-year growth of 502 million euros, or 557 million US dollars, in the first quarter of September 30th, following a two consecutive quarter of operating income decline.

Excluding exchange rate effects, profits recorded a growth of 8%. The group called it a new positive trend.

As of June 30th, the fourth quarter of the company, which was negatively affected by tourists and terrorist attacks, declined by 2.9% to 464 million euros in the Dior fashion sector, compared with the 1% decline in the third quarter.

In fact, the performance of the Dior fashion department is also inferior to that of its parent company.

In the first half of the year, LVMH Group recorded an increase of 3%, while its sales of fashion and leather products dropped by 1%.

Overall, however, Dior's first quarter performance was slightly better than that of LVMH group. As of the third quarter of September 30th, the group's organic sales increased by 6% to 9 billion 120 million euros, or about 10 billion 210 million US dollars, which exceeded the forecast growth rate of analysts.

Sales performance in the first quarter mainly reflects the market performance of Serge Ruffieux and Lucie Meier design results after the departure of Raf Simons.

After leaving last October, the brand ushered in the history of the first female creative director, Raf Simons, Maria Grazia Chiuri. Its first series was officially released in Paris fashion week last month. However, the industry has been mixed with different opinions about how the specific income trend has not yet been known.

Maria Grazia Chiuri will be responsible for

The first series of Dior designs, namely the 2017 spring garment series, was released in September 30th. The high definition series for Dior will be released in January next year.

Sidney Toledano stressed that this will be a long-term partnership. The brand will be reformed, which will inject more understanding of her way of life.

Annual sales amounted to US $2 billion.

Christian Dior fashion has been hit by the global luxury demand slowdown and the decline of Paris tourists since last year. In the face of the global bad fashion retail environment, Dior recently made a high-level adjustment to set up a new position for the women's wear department, and Damien Bertrand, the executive from L'OREAL group, became the general manager of the Dior dress.

In the first six months of 2016, the operating profit of the company fell by 30.2% to 74 million euros, and in the fourth quarter of June 30th, business revenue fell 2.9% to 464 million euros.

Dior's shares rose 1.36% today to 171.25 euros per share after the earnings announcement. The company's share price rose 15% in the past three months, and its current market value is about 31 billion 120 million euros.