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FinancialsJul 31, 2018
Kering’s Jewelry, Watch Brands See Strong Growth in H1
Jewelry in the luxury conglomerate’s portfolio turned in a solid performance while watch sales continued to recover.
Kering said its jewelry brands had a solid performance in the first half of the year. Pictured here are the new Iconica Bold bracelets from Pomellato, which were on display at the Couture jewelry trade show earlier this year.
Paris—Kering said its Jewelry and Watches division saw strong growth in the first half of 2018.
The luxury conglomerate reported in its fiscal first-half results that its jewelry brands, which include Boucheron and Pomellato, turned in a solid performance.
Sales of watches, meanwhile, continued the recovery started in the second half of 2017, ending the first half of 2018 up sharply year-over-year in a market “that is still convalescing,” Kering said in its release.
Kering’s owns Ulysse Nardin and Girard-Perregaux, and the Paris-based company also has a number of fashion brands, including Alexander McQueen, Gucci, Balenciaga and Saint Laurent, among others.
The company said revenue climbed steeply in all of its main product categories, propelling overall revenue for the company to €6.43 billion ($7.53 billion) in the first six months of the year, a 27 percent year-over-year gain.
The company noted particularly strong sales growth in North America, which reported a 45 percent year-over-year increase, in Western Europe (up 25 percent) and in Japan (up 31 percent).
Kering also said growth was good in emerging markets, with Asia-Pacific in particular up 39 percent.
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