Celine, the luxury fashion label owned by LVMH, has experienced a significant boost in sales since Hedi Slimane took over as creative director in 2018. Despite the challenges posed by the pandemic, Celine has shown impressive growth under Slimane’s leadership. While exact sales figures for the brand are not publicly disclosed, analysts estimate that Celine’s sales have exceeded €1 billion. Recent data obtained by FashionNetwork.com confirms the success of Slimane’s vision at Celine, with the label achieving revenues of €728 million in 2021.
When Slimane was appointed as creative director, there was a mixed response to his sexy-rock style, which marked a departure from the aesthetic established by his predecessor, Phoebe Philo. However, Slimane was able to recalibrate and reintroduce a Parisian bobo-chic spirit to his collections, which resonated with buyers and attracted a new customer base with appealing, easy-to-wear pieces.
In addition to his design direction, Slimane undertook a complete redesign of Celine’s visual identity, including the logo and store interiors. He also expanded the brand’s assortment by introducing the first men’s line and launching high perfumery and luxury leather goods collections. These strategic moves aimed to elevate Celine’s brand image and expand its product range, reinforcing Slimane’s creative vision.
The efforts to revitalize Celine have yielded positive results, with the number of Celine points of sale worldwide reaching 178, including monobrand stores, shop-in-shops, and corners. The label’s workforce has also grown from 404 employees in 2017 to 675 in recent years.
Before Slimane’s arrival, Celine S.A, the Paris-based company, generated a revenue of approximately €400 million. However, under Slimane’s leadership, sales have steadily increased, reaching €728 million in 2021, a remarkable 78% increase compared to the previous year. Despite the impact of the pandemic, Celine’s sales have grown by 19% over the pre-pandemic level of 2019. In 2021, the label’s net income amounted to €122 million, a significant improvement from a loss of €93.5 million in 2020.
Celine’s sales growth has been particularly impressive in export markets, which accounted for €564.5 million in sales in 2021, an 81% increase. Sales in France also saw a significant rise, reaching €162.9 million, a 67% growth. E-commerce has played a crucial role in Celine’s success, with online sales skyrocketing by 143% in 2021.
Looking ahead, it is expected that Celine will achieve its goal of doubling sales within five years, as initially stated by LVMH at the time of Slimane’s appointment. Despite the challenges posed by the pandemic, Celine’s performance indicates that 2022 may be the label’s best-ever fiscal year. With Slimane’s continued creative direction and the expansion of its product range, Celine is well-positioned for further growth in the luxury fashion market.
Useful links:
Link 1: Business of Fashion – Celine Posts Stellar Results Under Hedi Slimane
Link 2: Vogue Business – Celine Turnaround Story: The Hedi Slimane Effect
