Kering saw strong sales in its jewelry and watch divisions in 2022 as all brands and regions in the French luxury conglomerate’s network noted solid growth.
Sales at Kering’s “other houses” segment — which includes jewelry and watches as well as other fashion products — increased 18% on a reported basis to EUR 3.87 billion ($4.16 billion). Revenue at stores that were open a year earlier grew 16%.
“[Our] jewelry houses once again achieved outstanding progress and reached significant milestones,” the owner of high-fashion houses Gucci and Yves Saint Laurent said Wednesday. “Boucheron posted firm, steady growth, while Pomellato continued to perform well in Western Europe and Japan. Qeelin grew at a rapid pace.”
Group sales jumped 15% on a reported basis and 9% at stores open a year earlier to EUR 20.35 billion ($21.87 billion). Profit for the full year climbed 14% to EUR 3.61 billion ($3.88 billion).
“All our houses posted record revenues and contributed to higher operating income in 2022,” said Kering CEO François-Henri Pinault. “In an environment that remains uncertain, I have no doubt that 2023 will be another year of success for our houses and of growth for our group.”
Image: A Boucheron store in London. (Shutterstock)
