WatchesApr 21, 2026
Coco Chanel Enters the Game with New Watch CollectionGabrielle “Coco” Chanel is a character in the “Coco Game” collection of watches and the queen in its first haute horlogerie chessboard.
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
IndependentsApr 21, 2026
Meet Jewelers of America’s 2026 ‘20 Under 40’ ClassThe annual list honors rising professionals on the retail and supply sides of the jewelry industry.
CrimeApr 21, 2026
Customs Nabs 1,500 Pieces of Counterfeit Jewelry Bound for NYCSeized in Kentucky, the packages include fake Cartier, Tiffany & Co., Chanel, and Fendi jewelry.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
CrimeApr 20, 2026
Queens Man Convicted in Bludgeoning Death of Pawn Shop OwnerRodolfo Lopez-Portillo faces 25 years to life in prison after being found guilty in the March 2022 beating death of Arasb Shoughi.
Weekly QuizApr 16, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsApr 20, 2026
Beth Bernstein, Sonia Esther Soltani Pen New Jewelry Book“Jewelry Creators: Dynamic Duos and Generational Gems” highlights the relationships among 22 influential designers, brands, and gem dealers.
Events & AwardsApr 20, 2026
Atlanta Jewelry Show’s Spring Event Is Hitting the RoadThe AJS Spring 2027 show will be held in Savannah, Georgia, with future shows taking place in other Southeast cities.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
MajorsApr 20, 2026
Kendra Scott Names New CFO, Chief Business OfficerThe jewelry retailer plans to open 20 new stores this year and expand into new product categories.
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
MajorsApr 17, 2026
QVC Group Files for Chapter 11 BankruptcyThe retailer reported an 8 percent decline in annual sales as it struggles under the weight of billions of dollars of debt.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
MajorsApr 16, 2026
Stuller’s Latest Mountings Catalog Is Out NowThe “Mountings 2026-2027” catalog showcases Stuller’s largest and most diverse assortment to date with more than 400 new mounting styles.
PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
MajorsApr 15, 2026
Spark Creations’ Randy McKenzie Dies at 72 McKenzie spent 45 years with Spark Creations and is remembered for being kind, dedicated, and hardworking.
WatchesApr 15, 2026
These Are the New Rolex Watches for 2026Rolex focused exclusively on the Oyster Perpetual this year, as the model is celebrating its 100th anniversary.
SourcingApr 15, 2026
Diamond Club West Coast Names 2026 BoardKalpesh Jhaveri was re-elected as president for a third year.
TechnologyApr 15, 2026
This Jewelry Brand’s Video Series Is Up for a Webby Award“Diamond Divas,” a social media reality series by Shahla Karimi Jewelry, is nominated in the “Best Social: Fashion & Beauty” category.
SourcingApr 14, 2026
De Beers Expands ‘Desert Diamonds’ Beacon Into BridalThe campaign seeks to reignite desire for natural diamond engagement rings by highlighting the “distinct character” of warm-toned diamonds.
SourcingApr 14, 2026
International Jade Summit to Return to MontereyPresented by Mason-Kay Jade, the summit, in its second year, will again be held during the Monterey Bay Jade Festival.
Events & AwardsApr 14, 2026
CBG Releases Details for Las Vegas ShowThe group has announced its lineup of speakers and a new “Rising Stars” pavilion.
CollectionsApr 13, 2026
Uniform Object’s New Jewelry Collection Centers on the ‘Carbon Form’The “Carbon Form” collection explores the contrast between high and low materials, using rubber cord alongside 18-karat gold and gemstones.
Events & AwardsApr 13, 2026
JA Accepting 2026 Impact Initiative ApplicationsThe program provides essential funding to organizations for projects that enhance the jewelry industry.
Events & AwardsApr 13, 2026
Couture Announces New Show in MiamiThe jewelry trade show is launching its first open-to-the-public event in Coconut Grove this November.
