CollectionsJul 22, 2021
Boucheron’s New High Jewelry Collection Is a Sci-Fi FantasyFinancialsOct 20, 2021
Kering’s Jewelry Brands See Strong Q3 Growth
Boucheron, Pomellato, and its other jewelry houses posted double-digit growth or stronger in the quarter.
The “Prisme” ring with holographic rock crystal and diamonds in white gold from Kering-owned Boucheron’s new “Holographique” high jewelry collection
Paris—Kering’s sales growth slowed in the third quarter as sales in the Asia Pacific region faltered, but its jewelry houses still put on a strong performance.
The company behind Gucci, Saint Laurent, and other high-end brands posted third-quarter revenue of €4.19 billion ($4.87 billion), a 12 percent increase on a comparable basis and 10 percent higher than the third quarter of 2019.
“On the back of an excellent first half, Kering achieved a very solid third quarter at group level, up double digits over 2019,” said CEO François-Henri Pinault in a press release about the results.
“Saint Laurent, Bottega Veneta, and our other houses, as well as Kering Eyewear, all posted outstanding performances,” he said.
Revenue from Kering’s directly operated stores, including e-commerce, were up 12 percent year-over-year and up 11 percent compared with 2019.
Online sales continued their growth trajectory, with third quarter revenue up 24 percent year-over-year.
In North America, e-commerce sales accounted for 20 percent of retail sales.
When compared with 2019, overall online sales nearly tripled, up 148 percent.
For the first nine months of the year, overall revenue was up 37 percent year-over-year to €12.24 billion ($14.23 billion).
The company’s watch and jewelry brands, including Pomellato and Boucheron, fall into its “other houses” division, alongside Alexander McQueen and Balenciaga.
Quarterly revenue in the “others” division rebounded, totaling €837.7 million ($981.4 million), a 26 percent increase year-over-year on a comparable basis.
For the first nine months of the year, revenue in this category was up 48 percent year-over-year to €2.32 billion ($2.7 billion).
Sales in the category were up “very sharply” when compared with the third quarter of 2019, particularly due to the ongoing expansion of Balenciaga and Alexander McQueen.
Related stories will be right here …
The company behind Gucci, Saint Laurent, and other high-end brands posted third-quarter revenue of €4.19 billion ($4.87 billion), a 12 percent increase on a comparable basis and 10 percent higher than the third quarter of 2019.
“On the back of an excellent first half, Kering achieved a very solid third quarter at group level, up double digits over 2019,” said CEO François-Henri Pinault in a press release about the results.
“Saint Laurent, Bottega Veneta, and our other houses, as well as Kering Eyewear, all posted outstanding performances,” he said.
Revenue from Kering’s directly operated stores, including e-commerce, were up 12 percent year-over-year and up 11 percent compared with 2019.
Online sales continued their growth trajectory, with third quarter revenue up 24 percent year-over-year.
In North America, e-commerce sales accounted for 20 percent of retail sales.
When compared with 2019, overall online sales nearly tripled, up 148 percent.
For the first nine months of the year, overall revenue was up 37 percent year-over-year to €12.24 billion ($14.23 billion).
The company’s watch and jewelry brands, including Pomellato and Boucheron, fall into its “other houses” division, alongside Alexander McQueen and Balenciaga.
Quarterly revenue in the “others” division rebounded, totaling €837.7 million ($981.4 million), a 26 percent increase year-over-year on a comparable basis.
For the first nine months of the year, revenue in this category was up 48 percent year-over-year to €2.32 billion ($2.7 billion).
Sales in the category were up “very sharply” when compared with the third quarter of 2019, particularly due to the ongoing expansion of Balenciaga and Alexander McQueen.
Nonetheless, it was a strong quarter for its jewelry brands, with all seeing double-digit growth or higher on a one- and two-year basis, said Chief Financial Officer Jean-Marc Duplaix during the company’s earnings call.
“All jewelry houses delivered outstanding performances,” Kering said.
Boucheron’s new collections were met with high praise, especially in China and South Korea.
Pomellato’s classic collections drove its solid growth while its high jewelry offerings heightened its visibility, said Duplaix.
Qeelin saw “impressive growth,” with sales doubling compared with the third quarter of 2019.
Kering’s watch brands, including Ulysse Nardin and Girard-Perregaux, returned to growth.
Quarterly retail sales in the “others” division were up 24 percent while wholesale revenue was up 27 percent.
By region, third-quarter sales in North America were up 31 percent year-over-year.
In Asia Pacific, sales were up 1 percent, hampered by a rise in COVID-19 cases over the summer.
Sales in Western Europe were up 15 percent while sales in Japan were up 3 percent.
For the rest of the world, sales were up 24 percent.
The company recently announced it would no longer use fur as of fall 2022.
Kering has been looking to boost its sustainability efforts, joining forces with Richemont-owned Cartier to launch the Watch and Jewelry Initiative 2030 in partnership with the Responsible Jewelry Council, in an effort to set industry-wide sustainability goals.
“Sustainability is central to our strategy, and we achieved major new milestones in recent weeks. More than ever, we are investing to sustain our profitable growth trajectory over the long term and poised to successfully pursue our journey,” said Pinault.
Kering did not provide specific guidance for the fiscal year ahead.
Editors' Picks
Sponsored by
More on Financials
The Latest
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
Weekly QuizFeb 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
TechnologyFeb 11, 2026
Gemvision Symposium 2026 Slated for AprilThe event will include panel discussions, hands-on demonstrations of new digital manufacturing tools, and a jewelry design contest.
Events & AwardsFeb 11, 2026
TJS Announces Roundtable, Launches New AppRegistration is now open for The Jewelry Symposium, set to take place in Detroit from May 16-19.
SourcingFeb 10, 2026
At Meeting in South Africa, Support for Natural Diamonds Picks Up Steam Namibia has formally signed the Luanda Accord, while two key industry organizations pledged to join the Natural Diamond Council.
TrendsFeb 10, 2026
Bad Bunny Wears Football-Shaped ‘Desert Diamond’ for Halftime PerformanceLady Gaga, Cardi B, and Karol G also went with diamond jewelry for Bad Bunny’s Super Bowl halftime show honoring Puerto Rico.
SurveysFeb 10, 2026
Shoppers to Spend Big on Jewelry This Valentine’s Day, Says NRFJewelry is expected to be the No. 1 gift this year in terms of dollars spent.
SourcingFeb 10, 2026
AGTA To Debut ‘Stuller Color of the Year’ Spectrum Awards CategoryThe new category asks entrants for “exceptional” interpretations of the supplier’s 2026 color of the year, which is “Signature Red.”
Policies & IssuesFeb 09, 2026
U.S., India Trade Deal One Step Closer to Being FinalizedThe White House issued an official statement on the deal, which will eliminate tariffs on loose natural diamonds and gemstones from India.
Events & AwardsFeb 09, 2026
JA Now Accepting Entries for 2026 CASE AwardsEntries for the jewelry design competition will be accepted through March 20.
IndependentsFeb 09, 2026
James Free Jewelers Unveils Revamped FlagshipThe Ohio jeweler’s new layout features a curated collection of brand boutiques to promote storytelling and host in-store events.
TrendsFeb 09, 2026
These 14 Jewels Will Melt Your Heart This Valentine’s DayFrom heart motifs to pink pearls, Valentine’s Day is filled with jewelry imbued with love.
CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
TrendsFeb 06, 2026
Margot Robbie, Jacob Elordi Wear Matching Cece Jewellery Signet RingsOur Piece of the Week picks are these bespoke rings the “Wuthering Heights” stars have been spotted wearing during the film’s press tour.
MajorsFeb 05, 2026
Pandora to Begin Selling Platinum-Plated JewelryThe introduction of platinum plating will reduce its reliance on silver amid volatile price swings, said Pandora.
SourcingFeb 05, 2026
De Beers Lowers Production Guidance for 2026, Anglo Mulls Another WritedownIt would be the third impairment charge in three years on De Beers Group, which continues to grapple with a “challenging” diamond market.
