PARIS — Dior is starting to feel the Jonathan Anderson effect.
The French fashion house saw double-digit sales growth with American and Japanese clients in the second quarter, helping parent company LVMH Moët Hennessy Louis Vuitton’s key fashion and leather goods division break a two-year losing streak.
The unit, which also includes brands such as Louis Vuitton, Loro Piana and Celine, posted organic sales growth of 1 percent in the three months to June 30, following seven consecutive quarters of declines.
This was in line with analysts’ estimates, amid mixed results from sector peers that indicate luxury brands are increasingly dependent on a small cohort of ultra-wealthy clients, while aspirational consumers remain squeezed by inflation and geopolitical turmoil.
“LVMH demonstrated its solidity and effective strategy. Our maisons — which remained focused on ensuring the utmost quality in our products, and several of which are pursuing their creative renewal — continued to inspire dreams and enhance their desirability,” Bernard Arnault, chairman and chief executive officer of LVMH, said in a statement.
