Jewelry Cited as a Bright Spot in ‘Trying’ Year for Kering
The luxury conglomerate owns Boucheron, Pomellato, DoDo, and Qeelin.

Kering owns Boucheron, Pomellato, DoDo, and Qeelin. The brands are part of a division called “Other Houses,” which also includes Balenciaga, Alexander McQueen, and Brioni.
In 2023, revenue from the division totaled €3.5 billion ($3.77 billion), down 9 percent as reported year-over-year and 8 percent on a comparable basis.
Sales from the brands’ directly operated retail stores in the division rose 3 percent, while wholesale sales fell 29 percent.
While Kering does not break out results individually for brands in Other Houses, the company said its jewelry brands, “maintained their excellent momentum, with double-digit growth in the fourth quarter, driven by the success of all collections.”
Overall, Kering’s 2023 sales totaled €19.57 billion ($21.09 billion), down 4 percent as reported and 2 percent on a comparable basis, dragged down by a 6 percent drop in sales at its biggest brand, Gucci.
Recurring operating income fell 15 percent to €4.7 billion ($4.92 billion). Operating margin was 24.3 percent in 2023 compared with 27.5 percent in 2022.
Kering said sales at the stores it owns and operates were stable on a comparable basis, but wholesale sales and other revenue fell 11 percent, as the company continued to divert more resources to its own network of stores.
In the fourth quarter, sales were down 6 percent as reported and 4 percent on a comparable basis.
Sales from the directly operated retail network slipped 2 percent.
“In a trying year for the group, we strengthened our organization and took significant steps to further enhance the visibility and exclusivity of our houses,” Kering Chairman and CEO François-Henri Pinault said.
He said the company is focused on “revitalizing” Gucci, while describing the market environment as “uncertain” in 2024.
The Latest

An additional 25 percent tariff has been added to the previously announced 25 percent.

The jewelry and accessories retailer said its stores will remain open during the proceedings.

Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.

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

Designer Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.


She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.

Omar Roy, 72, was arrested in connection with the murder of jeweler Dionisio Carlos Valladares.

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

The New Orleans-based brand’s “Beyond Katrina” jewels honor the communities affected by the storm.

Lilian Raji explains why joining an affiliate network is essential for brands seeking placements in U.S. consumer publications.

The organization has awarded a total of $42,000 through its scholarship programs this year.

The winner of the inaugural David Yurman Gem Awards Grant will be announced live at the 2026 Gem Awards gala.

As summer winds down, celebrate the sunny disposition of the month’s birthstones: peridot and spinel.

Moshe Haimoff, a social media personality and 47th Street retailer, was robbed of $559,000 worth of jewelry by men in construction outfits.

Xavier Dibbrell brings more than a decade of experience to the role.

The addition of Yoakum, who will lead Kay and Peoples, was one of three executive appointments Signet announced Thursday.

The insurance company’s previous president and CEO, Scott Murphy, has split his role and will continue as CEO.

The nearly six-month pause of operations at its Kagem emerald mine earlier this year impacted the miner’s first-half results.

The necklace uses spinel drops to immortalize the moment Aphrodite’s tears mixed with her lover Adonis’ blood after he was fatally wounded.

The diamond miner and marketer warned last week that it expected to be in the red after significantly cutting prices in Q2.

Jewelers of America’s 35th annual design contest recognized creativity, artistry, style, and excellence.

Tratner succeeds Andie Weinman, who will begin stepping back from the buying group’s day-to-day operations.

The president made the announcement via Truth Social Wednesday, adding that India also will face a penalty for its dealings with Russia.

Its opening marks the completion of the retailer’s new 11,000-square-foot store in the Texas capital.

Respondents shared concerns about tariffs and commentary on the “Big Beautiful Bill.”

“Making a Killing in Diamonds” tells the story of Mimi Rosen, the disappearance of a scientist, and the murder of lab-grown diamond CEO.

Senior Editor Lenore Fedow learned a lot when she took a behind-the-scenes factory tour with the jewelry brand earlier this year.