Kering Boasts ‘Outstanding’ Jewelry Sales

RAPAPORT… Kering’s jewelry brands performed well in the third quarter amid the debut of new lines and strong demand in Asia.

“All jewelry houses delivered outstanding performances,” the French luxury conglomerate said Tuesday. “Boucheron’s new collections were very well received, resulting in exceptional growth, particularly in China and South Korea.”

Sales at the company’s Pomellato brand remained solid, and its Qeelin line achieved “particularly impressive growth,” Kering noted. The retailer’s watch brands, which include Ulysse Nardin and Girard-Perregaux, returned to growth after the pandemic spurred a long period of slow sales.

Sales at Kering’s “other houses” segment — which includes jewelry, watches and other fashion products — climbed 26% year on year to EUR 843.7 million ($983.9 million) during the July-to-September period. Group revenue rose 13% to EUR 4.19 billion ($4.88 billion).

In the first nine months of the year, revenue from the “other houses” jumped 46% to EUR 2.32 billion ($2.7 billion), while group revenue was up 35% to EUR 12.24 billion ($14.27 billion).

Image: A Pomellato store in Düsseldorf, Germany. (Shutterstock)