In the latest 2023 fiscal year earnings call in January, Bernard Arnault, Chairman and CEO of LVMH Group, discussed the French luxury brand Dior: “Growth is good, but for Dior, we have reached a stage where we no longer need such high growth. A growth rate of 8%-10% is perfect. I would prefer a slower but more stable growth rate for the brand, rather than ‘forcing the pace.’“
According to estimates by HSBC, under the leadership of former CEO Pietro Beccari, Christian Dior Couture’s sales increased from approximately 2.2 billion euros in 2017 to about 8.8 billion euros in 2022. Bernard Arnault praised, “Under Pietro Beccari’s leadership, the attractiveness of the Dior brand has been strengthened.”
In the 2023 BrandZ Top 100 Most Valuable Global Brands list, Dior emerged as the luxury brand with the fastest brand value growth at 9%.
After a rapid rise period of tripling sales in five years, in the past year of 2023, how did Dior continue to strengthen its market leadership position and continually increase its “desirability”?
Luxe.CO‘s fashion industry research institute, “Luxe.CO Intelligence,” has newly launched an annual luxury brand series report, “Dior in 2023.”
This report is based on brand public dynamics data comprehensively covered and updated in real-time by “Tong.Luxe.CO,” recording 406 major brand activities of Dior from January 1, 2023, to December 31, 2023, involving retail stores, new product launches, brand marketing (including brand exhibitions, fashion shows, cross-border collaborations, pop-ups, SPA collaborations, cultural arts, brand ambassadors/spokespersons, etc.), high-end experiences, supply chain, and executive changes.
By comprehensively sorting and summarizing Dior’s high-density dynamics over the past year, this report aims to help everyone understand the latest strategic direction and specific deployment of LVMH Group’s second-largest luxury brand as it enters a period of steady development, providing industry insiders with practical references and inspiration for top brand image and content construction.
In 2023, “Dior in 2023” recorded 18 global boutique openings and store upgrade dynamics of Christian Dior Couture:
- 13 new fashion accessory boutiques worldwide: 7 in China and 6 overseas; in the Chinese market, in addition to 4 new men’s and women’s fashion boutiques, Dior also opened 2 children’s boutiques and 1 single-category footwear boutique.
- 5 global fashion boutiques were renewed and upgraded: 4 in China and 1 in London.
As of this report, Dior has a total of 44 independent fashion boutiques in mainland China. In the latest 2023 annual financial report, Jean-Jacques Guiony, CFO of LVMH Group, revealed that Dior is considering opening larger stores in China.
Additionally, Dior’s beauty business, Parfums Christian Dior, continues to expand in the Chinese market, with 5 new beauty boutiques added in 2023.
In terms of product innovation, Dior’s new product launches in 2023 were particularly intense, with the report recording 104 global new product launch dynamics:
- 32 in beauty, with frequent new releases in makeup.
- 10 each for men’s and women’s ready-to-wear, including seasonal fashion releases and several limited series.
- 10 separate new product dynamics for bags, with classic handbags like LADY 95.22, BOOK TOTE, Miss Dior continuously being updated.
- Apart from fashion leather goods, Dior continued to strengthen its hard luxury categories (jewelry and watches), with 7 new product launch activities each.
In October 2023, Baby Dior also relaunched its fragrance and personal care product lines, introducing baby perfume and the first three-piece baby skincare series (including 2 cleansing milks and 1 moisturizing lotion).
In terms of brand communication, “Luxe.CO Intelligence” tracked that Dior continued to expand its brand presence globally through a variety of offline activities in 2023:
- 9 exhibitions: Continuing to bring touring exhibitions such as “Designer of Dreams” and “Dior and Art” to more cities.
- 9 fashion shows: In addition to Paris, Dior also moved its shows to other cities like Mumbai, Mexico City, Shenzhen.
- 18 cross-border collaboration events: Partnering with sports outdoor brands, artists/designers, environmental organizations, etc.
- 75 pop-up events: Covering various themed pop-ups extensively across multiple cities globally.
- 13 cultural and art events: Further telling the brand story and interpreting the brand spirit through publishing books, holding forums, sponsoring film and theater performances, artists, etc.
In January, Dior announced it would hold the 2024 early autumn men’s fashion show in Hong Kong in March. This marks Dior’s return to Hong Kong for a show since the women’s haute couture show in 2014 and the men’s launch event in 2016.
Moreover, Dior also provides high-end experiences through dining, SPA, and other services. In December 2023, Dior opened its first café in China at the Shanghai Bund Finance Center boutique. In 2023, “Luxe.CO Intelligence” tracked 11 global SPA collaboration dynamics for Dior: besides hotels, Dior also brought SPA services to trains, cruises, and other vacation scenarios.
The contents of “Dior in 2023” is as follows:
About Luxe.CO Intelligence
Luxe.CO Intelligence has been deeply involved in the fashion and luxury sectors for a long time. Leveraging our continuously expanding industry network, data intelligence, and knowledge system, we are committed to providing professional, innovative, and forward-looking consulting services to brands and companies in China and overseas. Our areas of focus include brand revitalization and upgrade strategies, brand content and communication strategies, niche industry positioning and opportunity analysis, and strategies for entering the Chinese market.
View all reports published by Luxe.CO Intelligence: https://luxe.co/page/hlzk
In the past six months, other brand research reports released by Luxe.CO Intelligence include:
“Louis Vuitton in 2023”
“Moncler in 2023”
“Gucci in 2023”
“Prada in 2023”
“Chanel in 2023”
“Hermès in 2023”
“On in China”
“Maglia in China”
“lululemon in China”
“CELINE in China”
…
We release multiple original research reports from Luxe.CO Intelligence each month and occasionally hosts industry lectures and forums. For any collaboration inquiries, please feel free to contact us.
Email: lci@luxe.co
About Tong.Luxe.CO
Launched on Luxe.CO website and app in early summer 2022, Tong.Luxe.CO is an innovative digital service that tracks daily activities of fashion brands with all-encompassing coverage for China market and selective coverage for overseas market.
The activities covered include product launch, store opening, marketing events, as well as personnel change, financial reporting and other major corporate initiatives.
Through Tong.Luxe.CO, you could find over 2000 entries on average each month about more than 1000 brands in luxury, fashion, beauty, sports and outdoor …, all tagged carefully to facilitate multi-dimensional analysis for further research.
