Yesterday CEO Bernard Arnault led LVMH’s annual shareholder meeting. Sometimes these high-level meetings yield little more than a stream of facts and figures, but other times they can shed light on a company’s thinking. When it came time to discuss Dior, this one didn’t disappoint. Without ever mentioning “John Galliano,” the richest man in France said Dior profits more than doubled to €85 million, buoyed mostly by growth in emerging markets.
It must be music to Bill Gaytten’s ears. Galliano’s former right-hand man has become Dior’s de facto creative director. Following a year of speculation over who’ll take the reins at Dior—Marc Jacobs, Riccardo Tisci, Raf Simons—the positive financial news lends credence to our tidbit a few weeks ago that the unassuming Englishman had been signed on for another six seasons. Because, why fix something that ain’t broke?