Boucheron, Pomellato Post ‘Outstanding' Year for Kering
The luxury titan’s revenue was up 15 percent year-over-year, though sales slipped in the fourth quarter.

Its jewelry houses, which include Boucheron and Pomellato, had an “outstanding” year, noted the company.
Here are four important takeaways from the luxury titan’s most recent earnings report.
It was a good year for Kering, but a rough fourth quarter.
The luxury conglomerate owns several high-end brands, including Gucci and Yves Saint Laurent, as well as jewelry brands Boucheron and Pomellato.
Kering posted full-year revenue of €20.35 billion ($21.75 billion), up 15 percent year-over-year.
Revenue from its directly operated stores, which includes its e-commerce sites, was up 10 percent year-over-year on a comparable basis, driven by gains in Western Europe and Japan.
However, in the fourth quarter, revenue slipped 2 percent to €5.28 billion ($5.65 billion).
Kering noted mixed performances among its houses and regions.
Its star brand, Gucci, saw sales increase 8 percent for the full year, but fall 14 percent in the fourth quarter. Sales at the brand’s stores were down 15 percent, “significantly affected” by the COVID-19 situation in China during the quarter.
“All our houses posted record revenues and contributed to higher operating income in 2022. But these good performances were not uniformly up to our ambitions and potential,” said CEO François-Henri Pinault.
“Beyond the challenges some of our houses faced, notably towards the end of the year, we are convinced that we are pursuing the right strategy for the long term.”
Jewelry sales were strong in 2022.
The company’s jewelry brands fall into its “other houses” division, alongside Alexander McQueen and Balenciaga.
Its jewelry portfolio consists of Boucheron, Pomellato, DoDo, and Qeelin.
For the full year, revenue in the division totaled €3.87 billion ($4.14 billion), an 18 percent increase.
Growth was driven by Kering’s directly operated retail network, with sales up 27 percent on a comparable basis. Wholesale revenue slipped 6 percent.
In the fourth quarter, revenue in the division fell 3 percent to €951 million ($987 million).
In its directly operated stores, quarterly sales were up 2 percent, with double-digit growth in Western Europe and Japan. Wholesale revenue fell 26 percent.
“Kering’s jewelry houses once again achieved outstanding progress and reached significant milestones. Boucheron posted firm, steady growth, while Pomellato continued to perform well in Western Europe and Japan. Finally, Qeelin grew at a rapid pace,” said the company.
Sales in North America were on the rise.
North America is Kering’s second-largest market, tied with Western Europe, and accounts for 27 percent of its annual revenue.
In 2022, sales in North America were up 5 percent year-over-year.
Asia-Pacific is the company’s largest market, comprising 33 percent of revenue, though sales in the region were down 8 percent for the full year.
Western Europe saw the strongest growth with revenue up 36 percent this year followed by Japan at 25 percent.
Kering has a positive outlook for 2023 despite an “uncertain” environment.
Though Kering did not share specific fiscal guidance for the year ahead, its CEO expressed confidence in the company’s performance.
Kering is able to “nurture the desirability and exclusivity of our brands, so they all achieve market positions commensurate with their unique heritage and recognized creativity,” said Pinault.
“In an environment that remains uncertain, I have no doubt that 2023 will be another year of success for our houses and of growth for our group.”
Kering said its two main goals for the year is to maintain its profitable growth trajectory and affirm its status as an influential group in the luxury world.
The Latest

As demand for custom jewelry grows, the company is expanding its services to support retailers.

The mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.

Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.


He retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.

The charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The organization elected its youngest vice president as it looks to draw in fresh talent.

Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.

The medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.

Sponsored by The INSTORE Jewelry Show 2025

Globally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.

The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.

Production at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.

A new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.

The middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.

The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.

The auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.

Jake Duneier and Danielle Duneier-Goldberg have stepped into the roles of CEO and president, respectively.

The “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.

The Texas-based jewelry retailer has set up shop in Tennessee and Arizona.

Eric Ford will step into the role, bringing with him decades of experience.

In addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.

The “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.

The seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.

The New England jeweler is hosting a bridal event for the month of August.