AuctionsFeb 18, 2026
Joanna Carson’s Jewels Head to AuctionThe estate of the model, philanthropist, and ex-wife of Johnny Carson has signed statement jewels up for sale at John Moran Auctioneers.
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
PodcastsFeb 18, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
MajorsFeb 18, 2026
Select Jewelry Inks Agreement to Distribute Lightweight Gold JewelryIt will lead distribution in North America for Graziella Braccialini's new gold pieces, which it said are 50 percent lighter.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
Policies & IssuesFeb 18, 2026
Community for Ethical Jewelry Looks for Executive DirectorThe organization is seeking a new executive director to lead it into its next phase of strategic growth and industry influence.
Weekly QuizFeb 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsFeb 18, 2026
DCA to Host Gemstone Selling Education Session at IJO EventThe nonprofit will present a live, two-hour introductory course on building confidence when selling colored gemstones.
TrendsFeb 17, 2026
A Bit of Jewelry for the Year of the HorseWestern wear continues to trend in the Year of the Fire Horse and along with it, horse and horseshoe motifs in jewelry.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
SourcingFeb 17, 2026
Colored Gemstone Experts Talk Tariffs, Trends in TucsonAlthough the market is robust, tariffs and precious metal prices are impacting the industry, Stuart Robertson and Brecken Branstrator said.
GradingFeb 17, 2026
Dr. George Rossman, Former GIA Governor, Dies at 81Rossman, who advised GIA for more than 50 years, is remembered for his passion and dedication to the field of gemology.
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
TechnologyFeb 11, 2026
Gemvision Symposium 2026 Slated for AprilThe event will include panel discussions, hands-on demonstrations of new digital manufacturing tools, and a jewelry design contest.
Events & AwardsFeb 11, 2026
TJS Announces Roundtable, Launches New AppRegistration is now open for The Jewelry Symposium, set to take place in Detroit from May 16-19.
SourcingFeb 10, 2026
At Meeting in South Africa, Support for Natural Diamonds Picks Up Steam Namibia has formally signed the Luanda Accord, while two key industry organizations pledged to join the Natural Diamond Council.
TrendsFeb 10, 2026
Bad Bunny Wears Football-Shaped ‘Desert Diamond’ for Halftime PerformanceLady Gaga, Cardi B, and Karol G also went with diamond jewelry for Bad Bunny’s Super Bowl halftime show honoring Puerto Rico.
SurveysFeb 10, 2026
Shoppers to Spend Big on Jewelry This Valentine’s Day, Says NRFJewelry is expected to be the No. 1 gift this year in terms of dollars spent.
SourcingFeb 10, 2026
AGTA To Debut ‘Stuller Color of the Year’ Spectrum Awards CategoryThe new category asks entrants for “exceptional” interpretations of the supplier’s 2026 color of the year, which is “Signature Red.”
