French luxury brand Dior broke through $1 billion in sales last year in South Korea.
According to the Financial Supervisory Service’s electronic disclosure system on the 3rd, Christian Dior Couture Korea’s sales last year amounted to $1.22 billion, a 12.48% increase compared to $777 million in the same period.
In the same period, operating profit fell slightly to $261 million from $270 million last year.
Dior entered the South Korean market in 1997 and has seen rapid growth with sales jumping from $533 million in 2017 to $2.72 billion in 2020 and $5.13 billion in 2021.
In 2022, sales and operating profit increased explosively by 51.77% and 53.05%, respectively, compared to last year.
However, Dior’s donation increase has been shrinking. Last year’s donations amounted to $16,000, a slight increase of $2,500 compared to $13,500 in the same period last year.
Meanwhile, Christian Dior Beauty has raised prices this month. According to the industry, Dior Beauty increased the cost of all products by up to 9% starting from the 1st of this month. Prestige line, perfume, and other select items saw a price increase of more than 9%, and most product prices have risen by more than 3%.