Kering Notes Strong Quarter for Jewelry

RAPAPORT… Kering, the owner of high-fashion houses Gucci and Yves
Saint Laurent, reported robust sales in its jewelry and watch divisions in the
third quarter amid growth in China and the introduction of new collections.



“Jewelry delivered solid growth, with a very good quarter at
Boucheron and strong performances from Pomellato and DoDo, while Qeelin pursued
its successful expansion in mainland China,” the luxury retailer noted.
“Watches posted an encouraging performance, lifted by the launch of new models
by Ulysse Nardin.”


Sales at Kering’s “other houses” segment — which
includes jewelry and watches, as well as other fashion products — climbed 19% on
a reported basis to EUR 612.3 million ($678.5 million) during the
July-to-September period. Revenue at stores that were open a year earlier grew 16%. Group sales jumped 14% on a reported
basis to EUR 3.78 billion ($4.19 million), increasing 11% on a comparable basis.



Kering’s group sales were strongest in Asia Pacific, Western
Europe and Japan, it said, while online sales climbed 20% during the period.



Image: A Boucheron store in the US. (Boucheron)