FinancialsApr 14, 2021
LVMH Sees Jewelry, Watch Sales Double in Q1FinancialsApr 21, 2021
Boucheron, Qeelin Excel in Kering’s Q1
The luxury titan’s jewelry and watch brands kicked off the year on a high note.
An 18-karat rose gold and malachite “Deep Forest” ring accented with black diamonds ($11,500) by Kering-owned brand Pomellato. The luxury conglomerate’s watch and jewelry brands performed well in the first quarter.
Paris—Kering’s fiscal year began on a high note, with revenue climbing double digits as sales surged in North America and Asia-Pacific.
The company behind Gucci, Yves Saint Laurent and other high-end brands posted revenue of €3.89 billion ($4.68 billion), a 26 percent increase on a comparable basis.
In the first quarter, Kering delivered a strong topline performance, bouncing back above pre-pandemic levels, said CEO François-Henri Pinault in a press release about the results.
“Growth was consistent across all our houses, and we are particularly pleased with Gucci’s momentum as the brand kicks off its centennial celebration.”
Retail sales from its directly operated stores were up 32 percent when compared with last year’s first quarter, which saw a slew of COVID-19-related store closures.
Compared with the first quarter of 2019, sales in this category were up 6 percent.
Due to the ongoing COVID-19 pandemic, 17 percent of its worldwide store network was closed in the first quarter, compared with 12 percent in last year’s first quarter.
Related stories will be right here …
Wholesale sales were up 9 percent year-over-year as the company works to streamline the segment.
Online sales more than doubled, up 108 percent year-over-year, accounting for 14 percent of retail sales.
E-commerce sales grew the most in North America, up 134 percent year-over-year.
The company’s watch and jewelry brands, including Pomellato and Boucheron, fall into its “other houses” division, alongside Alexander McQueen and Balenciaga.
First-quarter revenue in the “others” division totaled €714.3 million ($859.1 million), a 33 percent increase on a comparable basis.
In this division, retail sales were up 29 percent while wholesale revenue was up 38 percent.
Alexander McQueen and Balenciaga were the category’s top performers as the brands strengthened their foothold in the Asia Pacific region.
Boucheron has been rolling out an expansion plan, seeing strong growth in mainland China and Korea.
Pomellato is “rebounding nicely,” said Kering, while Qeelin has seen “outstanding development.”
In its watches category, the company reported “positive development with healthy sell-through.”
Editors' Picks
Sponsored by
By region, overall sales in North America were up 46 percent while sales in Western Europe fell 34 percent.
Sales in the Asia Pacific region surged 83 percent while sales in Japan slipped 3 percent.
Kering did not provide guidance for the fiscal year.
Pinault noted that while the pandemic will likely continue to impact the company, its brands are in good standing to weather the year ahead.
Recent reports suggested Kering had made an offer to acquire Richemont, but it was declined. Neither party confirmed the reports.
More on Financials
The Latest
AuctionsAug 11, 2026
Verdura Unicorn Brooch With Royal Connection Up for Auction The brooch was owned by Virginia Fortune Ryan Ogilvy, who served as a lady of the bedchamber to Queen Elizabeth II for nearly 50 years.
MajorsAug 11, 2026
Signet Jewelers Selects Mattel Exec to Lead Zales, BanterJamie Cygielman will take on the role on Aug. 24.
IndependentsAug 11, 2026
Polly’s Fine Jewelry Co-Owner Richard Moore Dies at 69Moore, Polly’s husband, is remembered as a family man with an easygoing spirit and a love for sports and the outdoors.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
ColumnistsAug 11, 2026
Creative Connecting: How to Sell Colored Gemstones to Gen ZDuvall O’Steen and Jen Cullen Williams share the best ways to display, present, and explain colored gemstones to younger customers.
Weekly QuizAug 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsAug 11, 2026
NAJA Announces Lineup For 2026 Fall Virtual ConferenceThe mid-year conference for jewelry and watch appraisers will take place Sept. 5-6 on Zoom.
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
MajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEOQVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
CollectionsAug 10, 2026
State Property Puts a Ripple in the ‘The Voyager’ CollectionThe brand also added two one-of-a-kind brown diamond pieces to the “Sanssouci” series of its “Gardens” collection.
MajorsAug 10, 2026
And IJO’s 2026 Vendor of the Year Is … Ostbye took home top vendor honors at the Independent Jewelers Organization’s show, held last month in Kentucky.
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 07, 2026
Retail Veteran Pam Cloud Appointed President of Blue NileCloud, who will officially join Blue Nile on Monday, spent 26 years at Tiffany & Co. and founded jewelry brand Roseate.
MajorsAug 07, 2026
Pandora Appoints Paulo Garcia as New CFO Garcia will take over from the company’s current CFO, Anders Boyer, who is retiring at the end of November.
MajorsAug 07, 2026
Etsy to Lay Off 12% of WorkforceEtsy CEO Kruti Patel Goyal explained why the company is letting go more than 200 employees as its performance improves.
TrendsAug 07, 2026
Look Ahead with Syna’s Binoculars PendantThe “Star Gazer” pendant, our Piece of the Week, is Syna’s tribute to curiosity and the discovery of something new.
CrimeAug 06, 2026
Lalique Museum to Remain Closed Following $5M HeistMuseum officials are looking to the public to help cover the “exceptional” costs involved in recovering from the July 5 smash-and-grab.
MajorsAug 06, 2026
Claire’s Revamps Piercing Services for Second Time in Three Years The overhaul includes enhanced employee safety training and trendy earring styles, including lab-grown diamond studs.
TrendsAug 06, 2026
New Book on Handcrafted American Objects Highlights Jewelry“Handwork: Handcrafted Objects that Made America” features historic and contemporary works, including a Diné squash blossom necklace.
MajorsAug 06, 2026
AJA East Coast Names Ani Khachian as First Female President-ElectThe Armenian Jewelers Association’s East Coast chapter has also elected its 2026–2027 board of directors.
MajorsAug 05, 2026
Private Equity Firm Wants to Buy 100+ JCPenney StoresOnyx Partners has submitted a second offer to buy the department stores after its first offer fell through last year.
IndependentsAug 05, 2026
Atlanta Jeweler Introduces $10K MartiniSolomon Brothers Jewelers has partnered with local cocktail bar Roaring Social on a new martini garnished with a tennis necklace.
IndependentsAug 05, 2026
Another Member of the Siegel Family Joins Hamilton Jewelers Benjamin Siegel, son of President and CEO Hank Siegel, started working for the family business this week.
MajorsAug 05, 2026
Bulgari Opens Store in San DiegoThe new space features a modern design that blends Bulgari’s Roman heritage with San Diego’s coastal spirit.
CrimeAug 04, 2026
Crew of Thieves Break Into Indiana Jeweler’s HomeFour men were charged in connection with the break-in and accused of stealing $365,000 in cash, jewelry, and designer goods.
MajorsAug 04, 2026
Pandora Hires Former Signet Board Member to Lead North American MarketAndré Branch has more than 25 years of experience with various brands, most recently serving as CEO of Ariana Grande’s cosmetics company.
MajorsAug 04, 2026
Sasha Primak Acquires GemlokNew York-based atelier Gemlok is best known for creating the innovative “bridge” setting that became popular in the bridal market.
