Luxury group Christian Dior posted a revenue of 20.3 billion euros for the first quarter of 2025, a slight decline on the same period of the year prior as the “disrupted geopolitical and economic environment” continued to take effect.

Overall group revenue dropped 2 percent on the 20.69 billion euros recorded in the first quarter of 2024, with most of the impact coming from its Wines & Spirits division, for which revenue fell 8 percent.

Fashion & Leather Goods also took a hit as revenue dropped from 10.49 billion euros to 10.1 billion euros, reflecting a 4 percent decline. The company said that despite the downward trend, the category “showed good resilience” and was boosted by “strong growth in purchases in Japan”.

More stability could be seen among Perfumes & Cosmetics, where growth was largely flat on the previous year at 2.18 billion euros; Watches & Jewellery, which reported a marginal uptick of 1 percent to 2.48 billion euros; and Selective Retailing, where revenue was also flat at 4.19 billion euros.

Selective Retailing was bolstered by the strength of Sephora’s in-store business alongside the expansion of Christian Dior’s retail network, particularly in North America. The group also initiated plans to strengthen the organisation of its department stores, La Samaritaine and Le Bon Marché, with a shared governance structure and the implementation of a differentiation strategy for the latter that aided in its strong start to the year.

Geographically, Europe was ahead in terms of growth for Christian Dior, while the US saw a slight decline, “despite a good performance in Fashion & Leather Goods and in Watches & Jewellery”. Japan was also down when compared to the first quarter of last year, yet revenue had been boosted by a growth in spending from Chinese consumers in the country.