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Asian Demand Drives Kering Jewelry Growth

Boucheron owner sees 7% revenue increase for the division in 2018.
Feb 12, 2019 10:13 AM   By Rapaport News
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RAPAPORT...
 Kering recorded robust sales in its jewelry-and-watch division in 2018, amid growing demand for its products in Asia.

Jewelry sales rose 7% to EUR 18 billion ($20.33 billion) at the French luxury group, which owns Boucheron, Pomellato and Qeelin. Timepiece sales remained solid, it added.

“The jewelry houses turned in a solid performance, and sales of the watches brands advanced for the second year in a row,” the company said Tuesday. “[Jewelry] was driven by strong demand in Asia, and the emergence of a younger client base.” 

Group sales jumped 26% to EUR 13.67 billion ($15.43 billion), including the company’s high-end labels such as Gucci, Bottega Veneta and Yves Saint Laurent. Profit more than doubled, reaching EUR 3.71 billion ($4.2 billion), versus EUR 1.79 billion ($2.02 billion) in the previous year.

Image: A Boucheron store on Old Bond Street in London. (Rapaport News)
Tags: Bottega Veneta, Bucheron, gucci, kering, Pomellato, Qeelin, Rapaport News, Yves Saint Laurent
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