Advanced Search

Kering Watch Sales Lag in Tough Market

Aug 1, 2016 5:01 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Kering’s jewelry brands outperformed watches in the first half as revenue from timepieces extended a decline amid a challenging market environment.

Watch and jewelry sales fell 4.4 per cent from a year ago to an estimated $390 million (EUR 349 million), according to data compiled by Rapaport News. The two industry segments represent about 9 percent of the group’s current luxury sales, compared with 9.7 percent a year earlier, Kering reported.

Revenue increased in each of the group’s luxury categories except timepieces. Brands include Boucheron, Dodo, Girard-Perregaux, Pomellato and Ulysse Nardin.

“Jewelry brands reported a slight overall rise in sales during the period, but revenue from watches contracted sharply once again due to ongoing highly unfavorable market conditions,” the Paris-headquartered luxury group said.

Kering’s group revenue increased 3.3 percent to $6.36 billion, driven by higher sales in western Europe and Japan which offset slower offtake by tourists. Luxury sales climbed 3.1 percent to $4.33 billion boosted by a turnaround at Gucci. Group profit jumped 9.9 percent to $519.1 million.
Tags: boucheron, Dodo, Europe, Girard-Perregaux, gucci, Japan, Jewelry, kering, luxury, Luxury retail, paris, Pomellato, Rapaport News, retail, sales, Ulysse Nardin, watches, Watches and jewelry
Similar Articles
© Copyright 1978-2020 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.