Kering Sales Down, but Boucheron Performs Positively

Kering Sales Down, but Boucheron Performs Positively
Pic courtesy Boucheron

Kering, the French luxury group that owns Boucheron and other high jewelry maisons, suffered a a 13 per cent decline in Q3 sales.

Group revenue was down to to €4.46bn ($4.72bn) in the face of what it called “challenging macroeconomic conditions and softening demand across the luxury industry”.

Revenue from its fashion brands – Gucci, Yves Saint Laurent and Bottega Veneta – all fell by around 15 per cent.

Its “other houses” – including jewelers Boucheron, Pomellato, DoDo, and Qeelin – fell by 19 per cent.

Paris-based Kering did not provide a revenue breakdown for each of them, but indicated the jewelry maisons had performed well despite the downturn.

It said: “Boucheron’s positive performance reflects the success of its high jewelry and jewelry collections. Pomellato achieved solid growth in its stores, while Qeelin showed excellent momentum.”

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