Document Ref: BCI-ATTR-2026-DIO-002
Audit Standard: BCI Protocol V1.0 / DDP-01 Final
Status Reading: Structural Inflection / Energy-Intensive Growth Phase
I. System Observation Statements
Based on the BCI Structural Attribution Model, the 2020–2025 cycle for Christian Dior Couture is characterized by a “High-Sensitivity Divergence.” Observations indicate that while material revenue expansion was achieved, it coincided with a rapid increase in Perceptual Legibility (PL), which rose from a 2020 baseline of 3.5 to a sustained reading above 6.5 by Q3 2022.
Current system readings suggest that the growth slope of Meaning Tension (MT) has decelerated, while the level of Systemic Energy Input (ES) required to maintain momentum has increased across explicit (Marketing Opex), implicit (Organizational Complexity), and capitalized (WACC) dimensions. This indicates a phase where financial growth reflects the extraction of pre-existing structural attractiveness rather than the proportional accumulation of long-term structural capital.
BCI Actuarial Matrix — Attribution Calibration (2020 vs. 2025)
| Dimension | 2020 Baseline | 2025 Reading | Financial Mapping | Audit Observation |
| MT (Meaning Tension) | 8.7 | 7.1 | Goodwill Stability | Deceleration in symbolic gravitational pull. |
| PL (Perceptual Legibility) | 3.5 | 6.8 | Secondary Market Premium | Hyper-exposure affecting scarcity capital. |
| TS^n (Time Structure) | 8.9 | 7.8 | Discount Rate (WACC) | Reduced anti-cyclic resilience; WACC +1.25%. |
| ES (Energy State) | Low | High | SG&A Intensity | Increased marketing energy per unit of revenue. |
II. Governance Option Descriptions
To support the long-term stability of the asset’s sovereign integrity, the following illustrative governance pathways have been identified:
- Balanced Calibration (Structural Stabilization): Describes a path where PL is actively constrained through stricter SKU architecture and narrative boundaries. This involves accepting a moderated revenue growth slope (est. 5–8%) to stabilize MT and reduce the system’s energy demand (ES).
- Sovereignty Priority (Asset Restoration): Describes a transition toward “Narrative Closure” and a reduction in high-velocity traffic touchpoints. This path prioritizes the brand as a sovereign asset rather than a growth engine, targeting a restoration of the $TS^n$ compounding exponent at the cost of explicit short-term revenue pullback.
- Traffic Synergy (Efficiency Alignment): Describes a governance choice to prioritize group-level operational efficiency and turnover. Under this path, the asset accepts sovereignty dilution (higher PL) in exchange for maximized liquidity, effectively transitioning the valuation logic from “Sovereign Asset” to “Premium Retail.”
III. Financial Reconciliation & Verifiable Mapping
BCI identifies a measurable correlation between structural shifts and realized financial data:
- Secondary Market Premiums: High-exposure items depreciated ~42% faster in 2025 than in the 2020 baseline, validating the PL Surge.
- Marketing Intensity: The year-over-year increase in SG&A marketing expense ratios verifies the ES-I (Explicit Energy) elevation required to offset attraction decay.
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