Dior: “America is doing better” for luxury market

The American high-end luxury market is giving fashion retailers who have been affected by the recent Asian slowdown renewed hopes, reported Reuters. As the head of Christian Dior said after the haute couture maison’s show in Paris, the U.S. market 

for high-end luxury goods rebounded in 2012 as consumer sentiment improved.

"America is doing better, in 2012 we have seen a strong rebound in spending on high-end luxury," Christian Dior Chief Executive Sidney Toledano said after the fashion house's haute couture show in Paris.

In fact, Toledano said Dior's couture division was receiving more orders than its workshops could take. “We need to develop our (production) capacity to handle the demand," Toledano said, adding that Dior had 100 permanent staff and its workshop was so busy that it remained in operation between Christmas and New Year.

"American women came back strongly last year," Toledano added, referring to buyers of the brand's haute couture dresses.

The United States, which vies with China for the top spot in the luxury sector by market size, is regarded by many as one of the least-penetrated markets compared with the size of its economy, with solid growth prospects.

In the same line, the likes of Richemont, have recently stressed the point that while the Asian markets are experimenting a slowdown that is starting to affect the luxury niche market, the USA is offering a more optimistic outlook.

It is worthy of mention that when China's economic growth slowed to a three-year low last year, luxury demand dropped suddenly, sending quite a warning about the future of this global market, worth 280 billion dollars last year according to Bain’s last data.

Photo: Christian Dior Spring 2013 Couture