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

The Dayton-based jeweler, which has been in business since 1985, was formerly known as Stafford Jewelers.

Reeds Jewelers CEO Alan Zimmer will be presented with the honor at JVC’s annual luncheon.

The piece, celebrating birthdays from March 21 to April 19, debuted with Sorellina’s new line of astrological pendants.

Supplier Spotlight Sponsored by GIA

The Indian jewelry brand recently opened stores in Atlanta and Seattle.


The 15 pieces were crafted from the “Insofu” emerald, discovered in Zambia in 2010.

Chris Anderson is joining the insurance provider as the new chief financial officer and treasurer.

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

Jewelers of America is distributing a brochure for retailers to use when discussing the differences between natural and lab-grown diamonds.

The industry is changing as it grapples with new realities around distribution, supply, and the need for consistent, effective marketing.

Bhansali discusses the potential impact of U.S. tariffs, demand for diamonds by market, and the “cautious confidence” in India right now.

As lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.

Govind Dholakia and Tanishq will be recognized for their contributions to the industry at the Diamonds Do Good Awards in Las Vegas.

The New York City-based brand has opened its first U.K. location with a permanent shop-in-shop at Liberty in London.

A metal detectorist discovered the ring that is believed to have belonged to a bishop in the late 12th to early 13th century.

Organizers looked to new partnerships and interactive experiences to enhance the spring show, set for March 16 to 18.

Kenewendo, Botswana’s minister of minerals and energy, will discuss the future of diamonds.

The suspect allegedly stole almost $800,000 worth of diamond jewelry from a store in Orlando and then swallowed it during a traffic stop.

Ahead of the Gem Awards on Friday, Jen Cullen Williams and Duvall O’Steen share pro tips for taking the best photos.

Founded in 2000, Marco Bicego is commemorating its milestone anniversary with a “25 Best” collection and campaigns honoring its heritage.

Those attending the company’s upcoming Zoom workshop will receive early access to “The List,” its new resource for finding buyers.

The organization will present an award to Amy-Elise Signeavsky, law enforcement and diamond recovery manager at GIA.

Chandler started his jewelry career at Michelson Jewelers, joining the Diamond Council of America as president and CEO in 2001.

Scottish American designer Maeve Gillies collaborated with Platinum Guild International on jewelry created by direct metal 3D printing.

Ahead of its trade show in May, TJS awarded free registration and accommodations to five up-and-coming jewelry industry professionals.

The 2025 Gem Awards are set to take place Friday at Cipriani 42nd Street in New York City.

The annual star-studded campaign for International Women’s Day encourages collective action against domestic violence.