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.
FinancialsFeb 17, 2021
Kering’s 2020 Revenue Sinks Despite Online Growth
But jewelry brands Boucheron and Qeelin continued to perform well in the Asia Pacific region.
A Nudo Cascade necklace by Kering-owned brand Pomellato, featuring peridot, white topaz, and tsavorite garnet
Paris—Kering ended its fiscal year on a low note, posting a decline in revenue, but the luxury titan’s online sales continue to climb.
The company behind Gucci, Yves Saint Laurent and other high-end brands saw a decline in overall revenue in the fourth quarter and the full year.
Fourth-quarter revenue totaled €4 billion ($4.82 billion), an 8 percent decline compared with €4.36 billion ($5.25 billion) a year ago.
Full-year revenue fell to €13.1 billion ($15.76 billion), an 18 percent decrease compared with €15.88 billion ($19.11 billion) a year ago.
Retail sales overall were down 16 percent year-over-year, attributed to store closures and a halt in tourism, though the company saw a “sharp rebound” in the second half led by North America and Asia Pacific.
Wholesale sales were down 17 percent on a comparable basis.
Online sales, meanwhile, were particularly strong, up 68 percent year-over-year, accounting for 13 percent of total sales.
In North America, online sales grew 89 percent on a comparable basis, accounting for 24 percent of retail sales compared with 13 percent a year ago.
“In a year of disruption, Kering demonstrated remarkable resilience and agility,” said CEO François-Henri Pinault in a press release about the results.
“We achieved a solid top-line recovery in the second half, we protected our margins while continuing to invest in our houses and growth platforms, our cash flow generation remained elevated, and we further strengthened the group’s financial structure.”
The company’s watch and jewelry brands, including Pomellato and Boucheron, fall into its “other houses” division, alongside Alexander McQueen and Balenciaga.
Full-year revenue in the “others” division totaled €2.28 billion ($2.74 billion), a 9 percent decrease on a comparable basis, while quarterly revenue totaled €693.1 million ($834 million), a 1 percent decrease compared with last year.
In this division, retail sales were down 5 percent for the full year while wholesale revenue fell 13 percent.
Alexander McQueen and Balenciaga were top performers, posting double-digit growth in retail and wholesale as the brands expanded their store network in Asia Pacific and North America while seeing a boost in online sales.
The jewelry houses suffered due to their exposure to the Western European market, an area still under COVID-19-related restrictions, while sales growth in Asia was strong.
Boucheron performed well in the Asia Pacific region, and Qeelin sales climbed due to a strong recovery in mainland China, said Kering, while its watch brands are focusing on prime distribution.
By region, overall sales in North America were
down 8 percent while sales in Western Europe fell 28 percent.
Sales in the Asia Pacific region slipped 7 percent while sales in Japan sank 29 percent.
Kering did not provide financial guidance for the year ahead, but Pinault said: “More than ever, I am convinced that our strategy and business model are perfectly in sync with the current and future trends of the luxury universe.”
Sales in the Asia Pacific region slipped 7 percent while sales in Japan sank 29 percent.
Kering did not provide financial guidance for the year ahead, but Pinault said: “More than ever, I am convinced that our strategy and business model are perfectly in sync with the current and future trends of the luxury universe.”
More on Financials
The Latest
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.”
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.
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 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.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
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.
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.
EditorsDec 31, 2025
The Top 5 Stories of 2025Articles about crime, engagement rings, and a necklace worn in the World Series generated the most interest among readers.
MajorsDec 30, 2025
Becka Johnson Kibby to Lead Edge Retail AcademyAs part of the leadership transition, Sherry Smith will take on the role of vice president of coaching strategy and development.
SourcingDec 30, 2025
India Chosen as KP Chair for 2026It marks the third time the country has headed the Kimberley Process. Ghana will serve as vice chair.
WatchesDec 30, 2025
Bulova, Stetson Collab on Watches With Western FlairThe new Bulova x Stetson designs highlight two animals often associated with the American West—the bison and the Texas Longhorn.
