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Boucheron Owner Kering Sees Luxury Sales Climb 3% in 1Q

May 2, 2016 11:11 AM   By Rapaport News
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RAPAPORT... Kering, the owner of high-end jewelry brands Boucheron and Pomellato, reported luxury sales rose in the first quarter on a stronger retail performance in Western Europe, Japan and emerging markets.

Revenue from the Paris-based group’s luxury brands – which also include Gucci and Yves Saint Laurent – advanced 2.8 percent year on year to $2.07 billion (EUR 1.8 billion), or an increase of 2.6 percent assuming comparable structure and exchange rates.

Revenue growth from jewelry brands was “positive” despite a high base of comparison at Boucheron. Although Kering did not disclose figures for its jewelry brands, it noted sales for luxury brands other than Gucci, Bottega Veneta and Yves Saint Laurent declined 2.9 percent, or 3.3 percent on a comparable basis. The company said Boucheron was exposed to the performance of the French market, which was negatively affected by terrorist attacks in Paris in November.

Watch sales “contended with an unfavorable market environment,” the company said. Yves Saint Laurent sales soared 27 percent.
Tags: boucheron, Europe, kering, luxury, Pomellato, Rapaport News, retail
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