Kering Sales Down, but Boucheron Performs Positively

By John Jeffay / October 30, 2023 / www.idexonline.com / Article Link

(IDEX Online) -  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."Pic courtesy Boucheron

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