Dior’s Net Income in Korea Up 250% in 2020 - SolidRumor.com

Dior’s Net Income in Korea Up 250% in 2020

 Dior’s Net Income in Korea Up 250% in 2020

Blackpink’s Jisoo is Dior’s global fashion and beauty ambassador. Dior

Christian Dior Couture Korea Co., the South Korean branch of French luxury brand Christian Dior, reported 328.5 billion won in sales and 77.7 billion won in net income, up by 75.8 percent and 253.4 percent, respectively, according to data released by Korea’s Financial Supervisory Service, as reported by Koreabizwire.com.

Dior’s operating profits of 104.7 billion won ($93.6 million) in Korea last year were 2.4 times larger than the previous year.

Korea’s Ministry of Trade, Industry and Energy recently reported that overall luxury sales at major department stores in 2020 rose by more than 15 percent year-on-year.

The luxury industry in Korea has been able to stay so resilient because the country, although it was among the first to report cases of Covid-19, was able to largely keep its outbreak under control without widespread shutdowns.

This meant its economy didn’t see the same level of impact as many others around the world and well-off Koreans continued to live a relatively normal life. Visits to high-end department stores remained relatively normal for the country’s luxury shoppers throughout the year with an increase in disposable income that would normally be spent on travel also proving a boon for the sector.

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