The “Kashmir” collection features centuries-old craft techniques made in collaboration with the region’s master papier-mâché artisans.
Kering’s 2020 Revenue Sinks Despite Online Growth
But jewelry brands Boucheron and Qeelin continued to perform well in the Asia Pacific region.

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
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.”
The Latest

Two Los Angeles Fire Department stations plan to use the donations to upgrade their equipment and tools.

Creative Director Erica Bianchini shared why the jeweler is looking to expand into the U.S. and how it’s putting Canadian craftsmanship on the map.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

JSA has received reports of mobs swarming jewelry stores, driving cars into the storefront or smashing through the windows.


Next week, the auction house will kick off a selling exhibition of jewelry by British artist Hannah Martin and Coldplay’s Guy Berryman.

“Stolen: Heist of the Century” is based on “Flawless,” the book about the middle-of-the-night theft, and will debut on Netflix in August.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

Emmanuel Raheb shares the top five gifting moments outside of major holidays that jewelers should build marketing campaigns around.

The wholesale trade show’s Luxury Lifestyle section will showcase established and emerging jewelry designers.

As demand for custom jewelry grows, the company is expanding its services to support retailers.

The mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.

Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.

He retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.

The charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.

The organization elected its youngest vice president as it looks to draw in fresh talent.

Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.

The medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.

Sponsored by The INSTORE Jewelry Show 2025

Globally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.

The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.

Production at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.

A new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.

The middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.

The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.

The auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.