2003 Organic Sales Growth of 5%, Operating Income Grows by over 7% at Christian Dior Group.Business Editors PARIS--(BUSINESS WIRE)--Jan. 27, 2004 At December 31 2003, consolidated Christian Dior Noun 1. Christian Dior - French couturier whose first collection in 1947 created a style that became known as the New Look (1905-1957) Dior Group sales Group sales Block sale (of large amounts) of securities to institutional investors. group sales The distribution of a new security issue to institutional clients. reached EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 12 466 million representing organic growth of 5%. On current exchange rates, the evolution was as follows: (EUR millions) 31 december 2003 31 december 2002 Christian Dior Couture 523 492 LVMH 11 962 12 693 Eliminations (19) (17) TOTAL 12 466 13 168 LVMH LVMH Moët Hennessy-Louis Vuitton (upscale retailer) achieved annual sales of EUR 11 962 million representing organic growth of 4% for 2003. Over the 4th quarter, growth accelerated and sales grew by 8%, on a constant exchange rate basis, over the same period last year. In particular, Louis Vuitton The Louis Vuitton Company (more commonly known simply as Louis Vuitton) is a luxury French fashion and leather goods brand and company, headquartered in Paris, France. It is a division of the French holding company, LVMH Louis Vuitton Moët Hennessy S.A. , achieved a spectacular performance, reinforcing its leadership in the luxury sector and recording organic growth over the final quarter of 17%. Christian Dior Couture recorded sales growth of 15 % on a constant exchange rate basis (6 % on current rates) to EUR 523 million. This excellent performance, in a difficult environment, notably during the 1st quarter (SARS, Iraq War Iraq War: see under Persian Gulf Wars. Iraq War or Second Persian Gulf War Brief conflict in 2003 between Iraq and a combined force of troops largely from the U.S. and Great Britain; and a subsequent U.S. etc.) demonstrates the creativity and exceptional quality of the Christian Dior products. This performance is even more remarkable when compared with the extremely strong growth of the brand in 2002 (41%). With organic growth of 20% (11% on a current exchange rate basis), the 4th quarter of 2003 saw an increase in sales at Christian Dior Couture. This growth was experienced across all geographic regions, in particular Japan, where the opening of the new flagship store in the Omotesando district of Tokyo met with huge success. Growing sales, allied to excellent cost management, allow for a rapid growth in profitability ; 2003 operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. will therefore increase by in excess of 20%. The Christian Dior Group has grown 2003 estimated operating income by over 7% and has set itself the goal of achieving a significant growth in operating income for the year ahead. |
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