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.
FinancialsFeb 12, 2020
Kering’s Jewelry Houses See Double-Digit Growth in 2019
CEO François-Henri Pinault said the company “remains confident” despite the coronavirus’ effect on the key Chinese market.
A pair of arrow motif earrings from Kering-owned brand Gucci. The luxury conglomerate reported double-digit revenue growth in its fourth-quarter and full-year results.
Paris—Luxury conglomerate Kering reported double-digit revenue growth in its fourth-quarter and full-year results, including in its watches and jewelry division.
Fourth quarter overall revenue totaled €4.36 billion ($4 billion), an 11 percent increase on a comparable basis, while revenue for the full year rose 13 percent year-over-year to €15.38 billion ($14.1 billion).
Fourth quarter revenue in the watches and jewelry division totaled €699.9 million ($641.59 million), a 15 percent increase on a comparable basis.
For the full year, revenue in the category clocked in at €2.54 billion ($2.33 billion), an 18 percent jump year-over-year.
Net income for the full year fell 37 percent following a €1.25 billion ($1.36 billion) tax penalty paid to Italian authorities.
Online sales climbed 23 percent on an annual basis, while wholesale sales rose 10 percent.
Overall, Kering saw growth across all regions, including a 7 percent increase in North America, 20 percent in Asia-Pacific, 14 percent in Western Europe and a 6 percent increase in Japan.
Kering’s brand portfolio spans fashion, leather goods, watches and jewelry.
The company refers to its top-performing brands Gucci, Yves Saint Laurent and Bottega Veneta as its main “houses,” while brands including Balenciaga and Alexander McQueen, as well as watch and jewelry offerings, are referred to as the “other houses” division.
“Performance was solid double-digit in jewelry with Boucheron, Pomellato and Qeelin taking advantage of the success of their collections and improved market coverage,” Chief Financial Officer Jean-Marc Duplaix said on the earnings call Wednesday morning.
Kering highlighted its “successful investment” in Boucheron and Qeelin, which recently expanded its presence in mainland China.
Looking at its performance in China, Kering CEO François-Henri Pinault said on the call the environment had “changed significantly” in the wake of the coronavirus outbreak, which was responsible for 1,100 deaths worldwide as of Wednesday morning.
Pinault said that about half of its stores in China are closed and those remaining open have seen a drop in traffic and shortened operating hours, leading to a “strong drop” in sales.
The company has postponed events, product launches, and store openings in the area and has begun moving inventory from China to other regions.
“Due to the evolving nature of the situation, it is impossible at this time to fully evaluate the impact on our businesses and how fast they will recover,” he said.
Investment group Jefferies estimated Chinese buyers made up about 40 percent of the €281 billion ($306 billion) spent on luxury goods worldwide in 2019
and drove 80 percent of the growth, as per a report from the Financial Times.
“The fourth quarter was great, but we need more information on current issues in China,” Jefferies analyst Flavio Cereda said to the FT. “The underlying strength of the business bodes well for the second half.”
Kering did not provide guidance for the year ahead but noted it “remains confident” in its growth potential.
“The fourth quarter was great, but we need more information on current issues in China,” Jefferies analyst Flavio Cereda said to the FT. “The underlying strength of the business bodes well for the second half.”
Kering did not provide guidance for the year ahead but noted it “remains confident” in its growth potential.
More on Financials
The Latest
ColumnistsApr 07, 2026
Peter Smith: A Tip to the Post Office on Workplace CultureSmith recounts a recent trip to the post office that included an uncomfortable, embarrassing, and public exchange between two employees.
GradingApr 07, 2026
GIA CFO David Tearle to Retire in June John Cowley, who has more than 30 years of experience, is succeeding Tearle as the lab’s chief financial officer.
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.
CollectionsApr 07, 2026
Nerd Out Over Gemology Geek’s First Jewelry CollectionFounder Erica Silverglide has designed 35 colorful pieces set with fluorescing gemstones for the brand's first finished jewelry offering.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsApr 07, 2026
Ukrainian Jewelers Highlighted In New Book“Ukrainian Jewelry | Contemporary Jewelry and Art Jewelry from Ukraine” features 33 contemporary Ukrainian designers and studios.
CollectionsApr 06, 2026
Fope’s New Jewelry Debuts Are Golden“The Golden Now” campaign celebrates the here and now with the brand’s signature styles and a selection of its new pieces.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsApr 06, 2026
Kecia Caffie, Corinne Bentzen No Longer With Signet JewelersSignet confirmed that Caffie, president of Zales and Banter, and Bentzen, who headed Blue Nile, have left the company.
CollectionsApr 06, 2026
Historian Tanzy Ward Pens Book on Black Victorians’ JewelryThe antique jewelry dealer talks about the importance of including Black Americans in jewelry history and preserving their stories.
SourcingApr 06, 2026
Gemfields Reports $51M Loss in 2025Both its mines faced challenges last year, from operational issues to disruptions in the market.
CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
