Financials

Kering’s Jewelry Brands See Double-Digit Growth in H1

FinancialsJul 26, 2019

Kering’s Jewelry Brands See Double-Digit Growth in H1

Jewelry brands Pomellato, Boucheron and Qeelin delivered a strong performance in the first half of Kering’s fiscal year.

The “Japanese Sunset” ring from Pomellato’s Ritratto collection, featuring rhodonite and pink sapphire accents set in 18-karat rose gold ($11,500). The Milan-based, Kering-owned brand reported double-digit growth in the first half of the year.

Paris—Luxury conglomerate Kering posted strong results for the first half of its fiscal year, seeing double-digit growth in overall revenue and from its jewelry brands.

Revenue for the first half of the year totaled €7.64 billion ($8.51 billion), an 18 percent increase year-over-year.

Second-quarter revenue increased by 13 percent on a comparable basis to €3.85 billion ($4.29 billion).

Kering’s portfolio spans fashion, leather goods, watches and jewelry.

The company refers to top-performing brands Gucci, Yves Saint Laurent and Bottega Veneta as its main “houses,” while brands including Balenciaga and Alexander McQueen, as well as watch and jewelry offerings, are referred to as the “other houses” division.

First-half revenue in the division that includes watches and jewelry totaled €1.23 billion ($1.37 billion), a 20 percent increase on a comparable basis.

Jewelry brands Pomellato, Boucheron and Qeelin saw “strong double-digit growth” with the whole division delivering a strong performance driven by retail, said Kering, and the company reported “encouraging progress” for its watch brand Ulysse Nardin.

Overall, direct sales for the category that includes watches and jewelry increased 32 percent on a comparable basis in the first half while wholesale was up 10 percent.

Online sales rose by 20 percent.

On the news front for Kering’s jewelry portfolio, Gucci introduced “Hortus Deliciarum” earlier this month, its first high jewelry collection featuring more than 200 pieces.

Overall, Kering saw growth across all regions, including a 7 percent increase in North America, 24 percent in Asia-Pacific, 15 percent in Western Europe and a 10 percent increase in Japan.

The company touted its strong performance in Asia-Pacific, specifically in mainland China, at a time when other luxury retailers have struggled in the fight for Chinese tourist dollars.

Looking ahead, the company said it plans to continue the “selective expansion” of its store network and invest in its e-commerce, omni-channel distribution, logistics and IT infrastructure.

In the face of an “unsettled” operating environment, Kering said, referring to macroeconomic and geopolitical strife, it plans to stay the course and keep a close eye on its management and allocation of resources.

Lenore Fedowis the associate editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

The Latest

AuctionsSep 30, 2022
Red Diamond Earns $1.8M at Auction

The final hammer price blew the pre-sale estimate out of the water.

EditorsSep 30, 2022
The Best of Betty White’s Jewelry Sold at Auction

Michelle Graff recaps the cats, fortune cookies, and charm bracelets that caught her eye while covering the late actress’ estate sale.

Policies & IssuesSep 30, 2022
Voting Is Open for the Fairmined 100 Challenge’s Best Collection

The winners, picked by a group of judges and voted as the public’s favorite, will be announced in a webinar on Oct. 11.

Brought to you by
6 Steps to Start a Dynamic Company Culture

Learn how to better serve your employees, customers and community by having a dynamic and supportive company culture.

CollectionsSep 30, 2022
Piece of the Week: Fewer Finer’s ‘Family Bracelet’

The engravable piece is a perfect family heirloom.

Weekly QuizSep 29, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
GradingSep 30, 2022
GSI India Names Ramit Kapur Managing Director

Kapur has spent nearly two decades working in the gemological labs sector of the jewelry industry.

Supplier BulletinSep 29, 2022
How to Create an Engaging Experience and a Sparkling Reputation

Sponsored by Synchrony

Brought to you by
Committing to an Ethical Diamond Business

While ethical mining is essential to a diamond business, they represent only a fraction of the responsibility bestowed on jewelers.

SourcingSep 29, 2022
Q&A: Constantin Wild Celebrates 175 Years in the Colored Stone Business

The family business’ fourth-generation eponymous owner reflects on the milestone and the market today.

AuctionsSep 29, 2022
See the Top Lots in Christie’s Upcoming Rare Watch Sale

According to Christie’s, the auction is its most important single-owner watch collection ever.

CollectionsSep 29, 2022
Trove Has a New Proposal: Ring Boxes

The jewelry box brand is expanding with both single and double ring boxes in red, mint green, and white.

SourcingSep 29, 2022
AGTA Names Jennifer Heebner Editor-in-Chief of its Publications

The association has also hired a new marketing manager and announced two staff transitions.

Policies & IssuesSep 29, 2022
JA Members Return to Capitol Hill to Voice Jewelers’ Concerns

The topics up for discussion with lawmakers included inflation, rising interest rates, hiring challenges, and crime.

AuctionsSep 28, 2022
The 18-Carat ‘Fortune Pink’ Diamond Could Sell for $35M

The pear-shaped fancy vivid pink diamond will lead the Christie’s Geneva Magnificent Jewels auction on Nov. 8.

SurveysSep 28, 2022
Consumer Confidence Rises in September

U.S. consumer confidence rose for the second consecutive month as gas prices fell.

MajorsSep 28, 2022
Artistry’s 2023 Catalog Is Out Now

The jewelry catalog features an updated layout and 160 pages of product.

MajorsSep 28, 2022
JFC’s 2022 ‘Hope for the Holidays’ Program Is an Adorable Menagerie

There are three designs to choose from this year, all featuring animals drawn by kids who have had wishes granted through Make-A-Wish.

AuctionsSep 27, 2022
In Betty White’s Blockbuster Estate Sale, Jewelry Held Its Own

Fine jewelry comprised three of the auction’s top 10 lots, though it could not top her director’s chair or scripts from “The Golden Girls.”

CrimeSep 27, 2022
3 Suspects in Beverly Hills Smash-and-Grab Robbery Arrested

A total of four suspects are now in custody with police still on the lookout for the remaining two.

ColumnistsSep 27, 2022
Creative Connecting: Fun Ideas for Holiday 2022 In-Store Events

From a “whodunnit” murder mystery to a permanent jewelry party, Duvall O’Steen and Jen Cullen Williams share a wealth of suggestions.

MajorsSep 27, 2022
Stuller Releases 2 Updated Catalogs Ahead of the Holiday Season

“Mountings 2023-2024” and “Diamonds & Gemstones 2023-2024” offer a vast selection of options to create custom pieces.

Events & AwardsSep 27, 2022
ICA’s 2023 Congress Will Be Held in Dubai

The event will be hosted by the Dubai Multi Commodities Centre from Feb. 15-17.

IndependentsSep 26, 2022
Roberson’s Fine Jewelry to Close After 42 Years

The store’s liquidation sale will showcase the mix of classic and unique jewels it’s known for stocking.

CollectionsSep 26, 2022
Go ‘Inside the Dream’ of Bulgari Via a New Documentary on Amazon Prime

It follows Creative Director Lucia Silvestri as she crafts the brand’s high jewelry collections.

Recorded WebinarsSep 26, 2022
Watch: What Jewelers Should Know About Insurance

From safeguarding showcases to appraisal liability, insurance experts Mark Devereaux and Andrew Chipman share insurance tips for jewelers.

TrendsSep 26, 2022
Vahan Collabs With Wolf on a Jewelry Box

It’s the first time in 50 years the brand has made something other than jewelry.

Events & AwardsSep 26, 2022
Texas Jewelers Association Rolls Out New Format for Design Competition

The competition takes place in tandem with TJA’s annual convention, known as the Texas Jewelers Roundup.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy