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Kering Reports Higher Jewelry Brand Sales

Oct 27, 2016 9:01 AM   By Rapaport News
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RAPAPORT... Luxury group Kering said sales at two key jewelry brands increased in the third quarter boosted by new lines.

Jewlery brands Boucheron and Pomellato both generated “double-digit” growth, the Paris-headquartered company reported.

“Boucheron performed well in both jewelry and high jewelry thanks to new creative initiatives such as the 26 Vendôme high jewelry collection unveiled during Paris Haute Couture Week in July,” the retailer said.

However, Kering’s watch segment was “still feeling the effects of a difficult market.”

Group revenue grew 10 percent on a reported basis to $3.48 billion (EUR 3.18 billion), or an increase of 10.5 percent assuming a comparable structure and exchange rates. Sales from luxury activities leapt 12 percent to $2.31 billion, or an 11 percent comparable rise.
Tags: 26 Vendôme, boucheron, Jewelry, kering, Pomellato, Rapaport News
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