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Jewelry Sales Remain Strong at Kering

Oct 23, 2022 5:25 AM   By Leah Meirovich
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Kering’s jewelry brands saw solid results in the third quarter, even as restrictions in China presented challenges.

Sales at Kering’s “other houses” segment — which includes jewelry, watches and other fashion products — climbed 17% year on year on a reported basis to EUR 995 million ($984.3 million), the French luxury conglomerate said last week. Group revenue jumped 23% to EUR 5.14 billion ($5.07 billion) for the three months ending September 30.

“Boucheron and Pomellato once again posted very good performances,” Kering noted. “Qeelin held out well against the complex operating environment in China.”

Sales in all regions increased, with Western Europe and Japan showing the strongest growth. While local demand in the US eased, American tourists in Europe also made a “hefty contribution” to revenue, Kering said.

In the first nine months of the year, revenue from the other houses was up 26% to EUR 2.95 billion ($2.91 billion), and group revenue grew 23% to EUR 15.07 billion ($14.86 billion).

Image: A Pomellato store in Milan, Italy. (Shutterstock)
Tags: boucheron, Jewelry, kering, Leah Meirovich, Pomellato, Qeelin
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