April 14, 2016 / 9:32 AM / in 2 years

LVMH CEO says Dior sales could reach 5 bln eur this year

PARIS, April 14 (Reuters) - LVMH Chief Executive Bernard Arnault said on Thursday that total sales at fashion and cosmetics brand Christian Dior, the luxury group’s parent company, could reach more than 5 billion euros ($5.63 billion) this year.

“The sales of Dior are starting to become quite significant... they could be more than 5 billion euros in 2016,” Arnault told shareholders at LVMH’s annual general meeting in Paris.

Dior Couture, the fashion division of the brand, on Tuesday published a 1 percent drop in reported sales to 429 million euros in the three months to March 31, hit by a drop in tourist numbers in Paris and several major Asian markets.

A year ago, Christian Dior Couture’s sales growth during the period was above 20 percent in reported terms. ($1 = 0.8880 euros) (Reporting by Astrid Wendlandt; Editing by James Regan)

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