Kering’s Q3 Sales Slide Amid Luxury Sales Slowdown
However, the company’s jewelry brands seemed to hold their own.

On Tuesday, the company reported a 13 percent decline in sales (9 percent on a comparable basis) to €4.46 billion ($4.72 billion).
Wholesale sales (down 20 percent on a comp basis) fell more sharply than revenue from the stores Kering operates directly (down 6 percent).
The company said it saw a decline in foot traffic in its stores in Q3. It also has been tightening control over its wholesale distribution.
Year-to-date, Kering’s sales have totaled €14.6 billion ($15.43 billion), down from €15.07 billion ($15.94 billion) at this time last year, a 3 percent decline.
“Other Houses,” the Kering division that includes its jewelry brands as well as fashion brands Balenciaga, Alexander McQueen and Brioni, posted the largest quarterly decline of any of the company’s divisions.
Sales fell 19 percent (15 percent on a comp basis), though the luxury conglomerate had only positive comments about its three jewelry brands, Boucheron, Pomellato, and Qeelin.
It said Boucheron had a “positive performance” due to both its high jewelry and regular jewelry collections while Pomellato achieved “solid growth” in stores and Qeelin “showed excellent momentum.”
Kering’s other brands, Gucci, Yves Saint Laurent and Bottega Veneta, also posted third-quarter sales declines.
Gucci’s sales fell 14 percent (7 percent on a comp basis), YSL’s sales were down 16 percent (12 percent on a comp basis), and revenue for Bottega Veneta declined 13 percent (7 percent on a comp basis).
Kering Chairman and CEO François-Henri Pinault said challenging macroeconomic conditions and a decrease in demand for luxury goods impacted the company’s Q3 performance.
He also mentioned the changes the company made beginning in July to “reclaim our positions and influence” as a contributing factor.
These include appointing Jean-François Palus as president and CEO of Gucci; buying a 30 percent stake in Valentino; appointing a new chief financial officer, Armelle Poulou; and Seán McGirr replacing Sarah Burton as creative director at Alexander McQueen.
The Latest

The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.

The champagne colorway in her newest “Ombré” collection combines white and trendy brown diamonds, a departure from her usual vibrant hues.

Kosann partnered with the Museum of Fine Arts, Boston, to create a set of necklaces inspired by the artwork on samurai sword handguards.

The upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.

Carlos Jose Hernandez and Joshua Zuazo face life in prison for the October 2024 murder of 72-year-old Detroit-area jeweler Hussein Murray.


The brand’s first high jewelry collection, “Tempest” plays with movement while calling to mind the folklore of the sea.

Proceeds from its jewelry raffle will go to a volunteer-run fire and rescue group in the Lightning Ridge area of New South Wales, Australia.

Stuller said the recipients embody the company’s core values, which include community participation and personal and professional growth.

Citizen’s new “Rainell” women’s watch has a raindrop-shaped case and is available with a silver-, gold-, purple-, or green-colored dial.

The “Mercedes Gleitze Rolex Oyster,” named for the British endurance swimmer who made it famous, will go up for sale next month.

Amit Pratihari was previously the managing director of De Beers India and Forevermark India.

Members of the Jewelers 24 Karat Club of Southern California will gain access to expanded services, resources, and connections, DCWC said.

Gomez’s jewelry included Tiffany & Co. drop-style earrings while Blanco stacked diamonds from Jacob & Co. on his wrist.

Diamond industry banking veteran Paul De Wachter will take on the role in January 2026.

Taylor Swift flaunts an Elizabeth Taylor-esque gemstone in promo for her new album, “The Life of a Showgirl.”

Its “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.

Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.

“Radiance and Reverie” will showcase more than 150 jewels from Lane’s personal collection by Tiffany & Co., Cartier, and more.

The month’s birthstones, tourmaline and opal, complement the palette of autumn.

Smith shares the importance of looking at your company with openness and honesty to identify opportunities you may be missing.

Associate Editor Natalie Francisco visited Italy to spot jewelry trends at the September Vicenzaoro show and share her top finds.

Respondents were concerned about job availability and rising prices.

Its latest interim financials revealed a challenging first half due in part to production troubles at its mines.

Alexander Lacik has led Pandora since 2019. Berta de Pablos-Barbier will succeed him, the first woman to head the company.

Two men allegedly used counterfeit bills to purchase luxury watches and jewelry from a North Carolina jeweler.

The “Lovestruck” collection, designed with the Academy and Grammy award-winning siblings, is the brand’s first lab-grown diamond offering.