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Kering’s 2015 Revenue +15%, Jewelry Sales Strong

Feb 21, 2016 7:43 AM   By Rapaport News
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RAPAPORT... Luxury group Kering reported revenue jumped 15 percent to $12.89 billion (EUR 11.58 billion) in 2015 on “brisk” sales and an improved operating performance. The increase was 4.6 percent on a comparable basis. Profit surged 32 percent to $774.7 million.

Watches and jewelry accounted for 10 percent of revenues, according to a statement February 19. Sales in the company’s jewelry brands “rose sharply” amid “very high” business volumes in the fourth quarter. Revenue increased in each of Kering’s main product categories except watches, which were negatively affected by an unfavorable market environment and the sharp appreciation of the Swiss franc.

Luxury sales in total increased 16 percent to $8.75 billion. The comparable change was 4.1 percent.

The second half of the year saw Kering appoint Hélène Poulit-Duquesne as chief executive officer of the Boucheron jewelry brand and Sabina Belli as chief executive officer of Pomellato.

“Kering's solid 2015 results reflect brisk sales and improved operating performances in the second half of the year,” said François-Henri Pinault, Kering’s chairman and chief executive officer. “These results come amid a more complex economic and geopolitical environment, accentuating the shifts taking place in our sector.”
Tags: Jewelry, kering, luxury, Rapaport News, retail, sales
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