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.
More on Financials
The Latest
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
MajorsApr 17, 2026
QVC Group Files for Chapter 11 BankruptcyThe retailer reported an 8 percent decline in annual sales as it struggles under the weight of billions of dollars of debt.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
Weekly QuizApr 16, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
MajorsApr 16, 2026
Stuller’s Latest Mountings Catalog Is Out NowThe “Mountings 2026-2027” catalog showcases Stuller’s largest and most diverse assortment to date with more than 400 new mounting styles.
PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
MajorsApr 15, 2026
Spark Creations’ Randy McKenzie Dies at 72 McKenzie spent 45 years with Spark Creations and is remembered for being kind, dedicated, and hardworking.
WatchesApr 15, 2026
These Are the New Rolex Watches for 2026Rolex focused exclusively on the Oyster Perpetual this year, as the model is celebrating its 100th anniversary.
SourcingApr 15, 2026
Diamond Club West Coast Names 2026 BoardKalpesh Jhaveri was re-elected as president for a third year.
TechnologyApr 15, 2026
This Jewelry Brand’s Video Series Is Up for a Webby Award“Diamond Divas,” a social media reality series by Shahla Karimi Jewelry, is nominated in the “Best Social: Fashion & Beauty” category.
SourcingApr 14, 2026
De Beers Expands ‘Desert Diamonds’ Beacon Into BridalThe campaign seeks to reignite desire for natural diamond engagement rings by highlighting the “distinct character” of warm-toned diamonds.
SourcingApr 14, 2026
International Jade Summit to Return to MontereyPresented by Mason-Kay Jade, the summit, in its second year, will again be held during the Monterey Bay Jade Festival.
Events & AwardsApr 14, 2026
CBG Releases Details for Las Vegas ShowThe group has announced its lineup of speakers and a new “Rising Stars” pavilion.
CollectionsApr 13, 2026
Uniform Object’s New Jewelry Collection Centers on the ‘Carbon Form’The “Carbon Form” collection explores the contrast between high and low materials, using rubber cord alongside 18-karat gold and gemstones.
Events & AwardsApr 13, 2026
JA Accepting 2026 Impact Initiative ApplicationsThe program provides essential funding to organizations for projects that enhance the jewelry industry.
Events & AwardsApr 13, 2026
Couture Announces New Show in MiamiThe jewelry trade show is launching its first open-to-the-public event in Coconut Grove this November.
CrimeApr 13, 2026
JSA Offers Reward in Oregon Jewelry Store Armed RobberyJSA is seeking information about the gunpoint robbery of a Kay Jewelers location in Oregon’s Washington Square Mall.
WatchesApr 10, 2026
These Watches Have Increased in Value the Most Since 2018, Says Chrono24The top-performing watch models may be surprising, with Rolex and several popular pandemic-era picks notably absent from the top 20.
CollectionsApr 10, 2026
Ophelia Eve’s Toggle Pendant Holds Your SecretsThe “Scroll” toggle pendant, our Piece of the Week, opens to reveal a hidden message, mantra, or love letter written on washi paper.
ColumnistsApr 09, 2026
Jewelry Demand Isn’t Stronger, Prices Are Just Higher Jewelers who misinterpret the state of the jewelry market risk employing the wrong retail strategy, cautions columnist Sherry Smith.
MajorsApr 09, 2026
Tiffany & Co. Promotes Nathalie Verdeille to SVP, Chief Artistic OfficerIn her newly expanded role, she will continue to oversee the jewelry category, as well as watches, home, and accessories.
WatchesApr 09, 2026
Jacob & Co. Rolls Out Its Sequel to ‘The Godfather’ Musical Watch“The Godfather II” watch plays two melodies from the mob film’s score, “The Godfather’s Waltz” and “The Godfather Love Theme.”
Events & AwardsApr 09, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerOrganizers have also introduced the new JCK Talks Signature Series, as well as an offering of watch-focused workshops and lectures.
