MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
FinancialsOct 23, 2020
Kering’s Jewelry Brands Suffer in Q3 Amid Tourism Halt
Boucheron and Qeelin performed well in the Asia Pacific region, but struggled elsewhere as tourist numbers dwindled.
Boucheron Meisa the Chickadee Ring set with a tanzanite, diamonds, multi-color sapphires, tsavorites, onyx and lapis lazuli in 18-karat white gold (price available upon request). The Kering-owned brand’s sales suffered due to declining tourism in Western Europe and Japan.
Paris—Kering posted hopeful third-quarter results Thursday, pointing to a recovery ahead, but the luxury conglomerate is not out of the woods yet.
The company behind Gucci, Yves Saint Laurent and other high-end brands saw a decline in overall revenue, even as online sales doubled.
Third-quarter revenue totaled €3.72 billion ($4.4 billion), a 4 percent decline compared with €3.88 billion ($4.59 billion) a year ago.
In the first nine months of the year, revenue fell 21 percent on a comparable basis to €9.09 billion ($10.75 billion).
“In a tough environment, Kering achieved substantial revenue recovery in the third quarter. The creativity of each of our Houses and the agility of our organization led to a sharp rebound in sales, nearly matching the level of the 2019 third quarter,” said CEO François-Henri Pinault in a press release announcing the results.
The company’s watch and jewelry brands, including Pomellato and Boucheron, fall into its “other houses” division, alongside Alexander McQueen and Balenciaga.
Quarterly revenue in the “others” division totaled €669.1 million ($791.5 billion), a 9 percent increase on a comparable basis.
Retail sales in this division were up 10 percent year-over-year while wholesale climbed 17 percent.
Alexander McQueen and Balenciaga were the standouts in this category, both seeing double-digit growth in retail and wholesale after expanding their directly-operated store network in Asia Pacific and North America and seeing a boost in online sales.
As for the jewelry houses, Boucheron and Pomellato “had a more contracted quarter,” said CFO Jean-Marc Duplaix during an earnings call Thursday.
Duplaix blamed suffering tourism in Western Europe and Japan.
Sales in Western Europe were down 41 percent and down 23 percent in Japan.
Boucheron saw bright spots in Asia Pacific, however, said Kering, highlighting its growth in Korea and Taiwan and its store opening in Beijing.
And, “Qeelin is taking advantage of the strength of mainland China to post outstanding growth,” said Duplaix.
Momentum in mainland China contributed to 19 percent growth in the Asia Pacific region.
Kering recently announced the opening of its new headquarters in Japan, located in Omotesando, Tokyo and designed by Pritzker Award winner and Japanese architect Toyo Ito.
The watch brands didn’t fare as well and are focusing on prime distribution, said Kering.
Kering’s luxury houses posted strong growth in North America, up 44 percent due to a rebound in local demand.
Online sales were a bright spot for the
luxury conglomerate, climbing 102 percent overall in the third quarter. North American e-commerce sales were up 179 percent in the third quarter.
For the first nine months of the year, e-commerce accounted for 13 percent of overall retail sales compared with 6 percent a year ago.
In North America, that percentage grew to 24 percent, double the 12 percent reported a year ago.
The loss of travel retail also took its toll as quarterly wholesale revenue in its luxury houses fell 5 percent year-over-year.
The luxury titan had 1,430 directly-operated stores as of September compared with 1,393 stores in June.
Kering did not provide financial guidance for the year ahead.
More on Financials
The Latest
SurveysJan 09, 2026
U.S. Holiday Retail Sales Up 4%, Visa, Mastercard SayThe credit card companies’ surveys examined where consumers shopped, what they bought, and what they valued this holiday season.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
MajorsJan 08, 2026
Diamond Council of America Names New Board DirectorsThe nonprofit’s new president and CEO, Annie Doresca, also began her role this month.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
SourcingJan 07, 2026
Diamonds Do Good Releases 2025 Impact ReportThe annual report highlights how it supported communities in areas where natural diamonds are mined, crafted, and sold.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
SourcingJan 06, 2026
AGA Announces 2026 BoardThe governing board welcomed two new members, Claire Scragg and Susan Eisen.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
