While sticking firmly to our long-term strategy, we are adapting our decisions and actions to the ever faster changes in our market environment. We can count on the power of our brands, their alliance of quality, tradition and innovation,the responsiveness of a highly action-oriented organization, and the ambition shared by our talented teams for perfect strategyexecution. In a competitive environment for all our business lines, these key strengths will maintain our competitive edge.
A dynamic year for all our business groupsWe have made many, solid achievements. Christian Dior Couture continued its exceptional growth across all categories, particularly in its own network of stores. Haute Couture had a very big year, with Raf Simons, Artistic Director of the House of Dior, receiving an award from the prestigious Council of Fashion Designers of America. Wines and Spirits benefited from the positive momentum of the American market but felt the effects of destocking by distributors in China. That business group’s brands stayed true to the keypriorities of their value strategy and worked in particular on developing their manufacturing capacity. Louis vuitton is reinventingits icons and upgrading its stores.
Its unique savoir-faire and exceptional creative resources come to the fore in its collections. Nicolas Ghesquière, appointed Artistic Director for Louis vuitton’s women’s collections, is one of the most talented designers. He shares Louis vuitton’s vision and values, and brings a great sense of enthusiasm to the task of working with our teams to build its future.
Our Perfumes and Cosmetics brands have beenstrengthening their research facilities and increasing market share with an unwavering commitment to excellence. Bulgari’s integration within the Watches and Jewelry business group has been a success. Our SelectiveRetailing businesses are exceptionally dynamic, combining an avant-garde mindset with innovative services, while consistently striving to offer a unique customer experience. As we strengthen our position in traditional markets, we continue to expand our reach into new territories.
The wineries that Moët Hennessy created recently in India and China are beginning commercialoperations. In SouthAmerica, Southeast Asia and Africa, new countries are opening up to our products and the lifestyle they represent.