FinancialsJul 27, 2022
High Jewelry Shines in First Half for LVMH FinancialsJul 28, 2022
Boucheron, Pomellato Deliver ‘Very Solid’ Performances for Kering
Revenue for the group that includes Kering’s jewelry brands grew 32 percent in the first half of 2022.
The 18-karat rose gold malachite and black diamond “Deep Forest” ring from Pomellato, one of four jewelry brands luxury conglomerate Kering owns. The company said both Pomellato and Boucheron delivered solid performances in the first half of the year.
Geneva—Like competitor LVMH, Kering recorded a solid first half, with the luxury sales momentum from the second half of 2020 and the full-year 2021 spilling over into 2022.
The Geneva-based luxury conglomerate reported Wednesday that first-half 2022 revenue rose 23 percent year-over-year (16 percent on a comparable basis) to €9.93 billion ($10.09 billion).
Compared to the first half of 2019, prior to the pandemic, sales were up 28 percent on a comparable basis.
Net income rose 34 percent to €1.99 billion ($2.02 billion).
In the second quarter, Kering saw sales increase 20 percent (12 percent on a comparable basis), the difference mainly due to currency effects, the company said.
Chairman and CEO François-Henri Pinault said the company has sustained last year’s top-line momentum, with performances in markets worldwide strong enough to offset the slowdown in China due to COVID-19 lockdowns. He also noted that Kering is leveraging the rebound in tourism in Europe.
“In a period of heightened macro uncertainty, Kering is in great shape to surmount short-term challenges, take advantage of new opportunities, and support the ambitious strategies and tremendous prospects of all our brands,” Pinault said.
Kering includes results for the jewelry brands it owns—Boucheron, Pomellato, DoDo and Qeelin—under “Other Houses.” (The luxury conglomerate also used to own watch brands Girard-Perregaux and Ulysse Nardin but sold them earlier this year.)
In the first half of the year, Kering’s Other Houses saw revenue grow 32 percent (29 percent on a comparable basis) year-over-year to €1.96 billion ($1.99 billion).
In the Other Houses stores Kering operates directly, sales were up 38 percent while wholesale sales grew 16 percent year-over-year.
Income from recurring operations increased 71 percent to €337 million ($342 million).
In the second quarter, sales for Other Houses were up 28 percent (24 percent on a comparable basis).
Commenting on its jewelry brands, Kering said that Boucheron and Pomellato delivered “very solid” performances, while Qeelin had a slow second quarter due to COVID lockdowns in China.
Looking ahead to the remainder of 2022, the company said: “In an increasingly uncertain macroeconomic context, the group is continuing to implement its strategy with determination and will continue to manage and allocate its resources to best support its operating performance, continue generating significant cash flow, and optimize its return on capital employed.
“Thanks to its strong business and organizational model, along with its robust financial position, Kering remains confident in its growth potential for the medium and long term.”
More on Financials
The Latest
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.
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.
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.
Weekly QuizApr 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
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.
SourcingApr 09, 2026
AGA To Honor ‘Quiet Leadership’ With New AwardThe Alan Hodgkinson Medal recognizes gemologists who are consistently generous with their time and expertise.
WatchesApr 09, 2026
Oris Names New CEO, CFOThe Swiss watchmaker is changing up its executive leadership team as part of a restructuring.
CollectionsApr 08, 2026
Hearts On Fire Celebrates 30 Years By Asking a QuestionThe “What’s Your Signature?” campaign invites women to think about how they see themselves.
SourcingApr 08, 2026
Sale of 42-Carat Blue Diamond Gives Petra a Boost in Q3The big diamond’s sale added to the company’s revenue though the market remains “challenging” overall, particularly for smaller goods.
Events & AwardsApr 08, 2026
AGS Confluence Returns with AI, Sustainability SessionsRob Bates of The Jewelry Wire will also moderate a panel on the state of the jewelry industry during the virtual event.
Events & AwardsApr 08, 2026
TJS to Honor 2 Longtime Former Stuller EmployeesThe Jewelry Symposium will honor two industry veterans with lifetime achievement awards at its upcoming May event.
TrendsApr 08, 2026
Amanda’s Style File: April’s Brilliant Birthstone With their durability, brilliance, and beauty, diamonds are the perfect stone for everyday birthstone jewelry.
MajorsApr 07, 2026
QVC Group’s Latest Filing Calls Its Future Into QuestionThe retailer failed to file its annual report on time and said it may issue a going concern warning.
