French luxury goods company Christian Dior Group today (20 October) posted a 6% drop in revenue in the first nine months of the year, but said the rate of decline slowed between the second and third quarters.

Group revenues fell to EUR12.4bn for the group as a whole, and were down 11% at Christian Dior Couture to EUR518m.

The firm said sales at boutiques showed "tangible signs" of recovery, but wholesale demand remained stifled by department stores cutting their inventories.

Sales of leather goods, carried by the Lady Dior line, showed sustained growth, it said with the Asia Pacific region, and in particular China, showing strong growth potential.

The company, which belongs to Europe's biggest luxury products manufacturer Moet Hennessy Louis Vuitton (LVMH), is also the holding company for the Louis Vuitton fashion brand.

Earlier today LVMH said its fashion brands continued to struggle as the company reported revenues for the first nine months of 2009 essentially unchanged at EUR11.9bn.

Fashion and leather goods revenues moved up 7% - or 1% on an organic basis - to EUR4.537bn over the same period, but owed much of their success to the performance of Louis Vuitton and leather goods brand Damier Graphite.