Kering Posts Strong Jewelry Performance

RAPAPORT… Kering noted solid sales in its jewelry-and-watch division in
the third quarter amid a sharp increase in the luxury retailer’s group sales.



“Watches and jewelry posted solid revenue growth,” the
company said Wednesday. “New collections and extended iconic lines from
Boucheron, Pomellato and Qeelin were very well received. Watches achieved a
robust performance, driven by innovation and outstanding craftsmanship.”


Sales at Kering’s “other houses” segment — which includes
jewelry and watches, as well as other fashion products — climbed 32% to EUR 516.4
million ($588.5 million) during the quarter. Group sales jumped 28% to EUR 3.4
billion ($3.88 billion), including the company’s high-end labels such as Gucci
and Yves Saint Laurent.

Image: Pomellato store, Rodeo Drive, Beverly Hills. (Pomellato)