Kering Notes Strong Quarter for Jewelry

RAPAPORT... Kering, the owner of high-fashion houses Gucci and YvesSaint Laurent, reported robust sales in its jewelry and watch divisions in thethird quarter amid growth in China and the introduction of new collections. "Jewelry delivered solid growth, with a very good quarter atBoucheron and strong performances from Pomellato and DoDo, while Qeelin pursuedits successful expansion in mainland China," the luxury retailer noted."Watches posted an encouraging performance, lifted by the launch of new modelsby Ulysse Nardin." Sales at Kering's "other houses" segment - whichincludes jewelry and watches, as well as other fashion products -climbed 19% ona reported basis to EUR 612.3 million ($678.5 million) during theJuly-to-September period. Revenue at stores that were open a year earlier grew 16%. Group sales jumped 14% on a reportedbasis to EUR 3.78 billion ($4.19 million), increasing 11% on a comparable basis. Kering's group sales were strongest in Asia Pacific, WesternEurope and Japan, it said, while online sales climbed 20% during the period. Image: A Boucheron store in the US. (Boucheron)