PARIS (Reuters) - European demand for luxury goods is proving resilient, the head of fashion brand Christian Dior (DIOR.PA) said on Monday, downplaying the recent slowdown seen by parent LVMH (LVMH.PA) and rival Kering (PRTP.PA).
Although the euro-zone recession and China’s slowdown have put the brakes on luxury growth, Sidney Toledano told Reuters he was upbeat on the future and said there was still demand for the quality of European luxury goods.
“In Europe, demand is proving resilient, thanks to the quality and excellence of our know-how,” Toledano said on the sidelines of Dior’s fashion show.
“I am confident.”
CEO Toledano also said that there was a resurgence in demand from U.S. clients and that Asian demand was still very solid.
Dior is due to publish its annual results for its financial year ending in June 2013. Over the first nine months of the financial year its sales grew 19 percent, to 971 million euros ($1.27 billion).
($1 = 0.7671 euros)
Reporting by Pascale Denis; Editing by Lionel Laurent and Doina Chiacu