French luxury group Christian Dior's senior fashion arm, Christian Dior couture's chief executive, Sidney toled, said in an interview that the prospect of European economic development over the next few years is good. Emma neul, the new French president, is more convinced of the commitment to change the labour market.
Toled said: " we have a new president - I think this is a good sign for economic development. I am optimistic about the future economic development, and the situation will be better in the next few years. Like China, the French middle class is entering the upper class, which is a good driver for the development of the luxury industry. ”
After the government's crackdown on corruption, demand for the Chinese luxury market fell into a slump, but with the rebound in the second half of 2016, sales of luxury goods such as hermès s ( Hermes s ) and kering ( kering ) have rebounded sharply, and Christian Dior is no exception.
Dior advanced fashion sales at 10.43 billion in the second half of 2016, an increase of 9 % from a year earlier to unchanged exchange rates by 10 % year - on - year, and a 33 % increase in net profit ( see gorgeous news: Christian Dior's advanced fashion business rose 33 % over the past half year, accelerating sales growth ). Earlier this year, LVMH announced the takeover of Dior couture, while LVMH's big shareholder, Bernard Arnault, announced that it would buy the remaining 25.9 per cent of Christian Dior through its subsidiary semyrhamis, for details: LVMH's acquisition of the remaining stake in Christian Dior was promoted by LVMH's big shareholders, and the share price of Christian Dior rose 80 per cent in the past 12 months.
The French new president, macron, wants to make the French labour market easier to hire and fire, and to adjust wage levels and working hours from companies to the industry and limit severance pay from trade unions.
Toled said China is gradually becoming the primary development target of Christian Dior couture, and their market share in China is increasing. Unlike other luxury brands, he said, Dior was not affected by the anti - corruption policy.
The 65 - year - old toled has approached Dior since 1998 for nearly 20 years. he said, " 20 years ago when we entered the Chinese market, we thought we should step in the water first, sell small goods first. However, at first we are full commitment, and we want to gain a firm foothold here. It now seems that we were right at that time. From now on, we will serve the next generation of Chinese consumer services. ”
In the current Chinese luxury market, the leader is the local high-end liquor enterprises, among them, the Sichuan Jiannanchun group and Guizhou maotai occupy about 2 % of the market share. According to euromonitor international, Louis Vuitton, Chanel, richemont and Gucci share a market share of around 1 %, while Christian Dior's market share in 2015 was about 0.6 %, up from 0.4 % in 2013.
Speaking of LVMH group's acquisition of the remaining stake in Christian Dior, toled said: " this will simplify our equity structure and produce a certain synergy. But I don't like the word synergy, it's easy to misinterpret that we're cutting jobs. In fact, I think we will increase the number of employees and work more closely with LVMH. ”