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Kering Jewelry Growth Solid in 1H

Watch demand continues to improve, says owner of Girard-Perregaux and Boucheron.
Jul 29, 2018 8:11 AM   By Rapaport News
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RAPAPORT... Kering, which owns high-fashion houses such as Gucci and Yves Saint Laurent, reported solid growth in its jewelry and watch divisions in the first half of 2018, driven by increased sales in Asia Pacific and North America.

“Accessories, jewelry, and, to a certain extent, ready-to-wear, fared well, and business levels for watches continued to steadily improve within a market that is still convalescing,” the luxury retailer said last week.

The recovery in watch sales — which began in the second half of 2017 — continued in the six months ending June 30, with a high year-on-year increase, the company added.

Total sales across all divisions climbed 34% to $7.24 billion (EUR 6.21 billion) for the first six months of the year.

Revenue from houses other than Gucci, Yves Saint Laurent and Bottega Veneta jumped 37% to $1.16 billion (EUR 995.5 million). Those sales include jewelry and watch brands such as Boucheron, Pomellato and Qeelin, as well as couture and leather goods, ready-to-wear and shoes.

Image: Boucheron
Tags: boucheron, gucci, kering, Pomellato, Qeelin, Rapaport News, Yves Saint Laurent
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