Jewelry Sales Solid for Kering in First Quarter

RAPAPORT… Kering noted strong sales in its jewelry-and-watch division
in the first quarter, amid growing Asian demand and a positive reception at the Salon International de la Haute Horlogerie (SIHH) fair in Geneva.

“Jewelry delivered solid growth, thanks in particular to the
success of creations by Boucheron, Qeelin and Pomellato,” the company said last
week. New watch models the retailer unveiled at the January trade show also proved popular, it added 

Sales at Kering’s “other houses” segment climbed 25% on a
reported basis, and 22% on a comparable basis — at stores open during the
same period last year — to EUR 576.9 million ($648.8 million) in the first
quarter. The division incorporates jewelry and watches, as well as other
fashion products. Group sales, including the company’s high-end labels, such as
Gucci and Yves Saint Laurent, jumped 22% to EUR 3.79 billion ($4.26 billion),
and 18% on a comparable basis.

Image: A Boucheron store in Singapore. (Shutterstock)