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Kering Q3 Jewellery Sales Remain Strong

French luxury conglomerate Kering reported solid results of its jewellery brands in the third quarter of 2022.


The group revenue jumped 23 percent year-over-year to €5.14 billion ($5.07 billion). Sales at Kering’s “other houses” segment which include jewellery, watches and other fashion products rose 17 percent year-over-year to €995 million ($984.3 million) for the three months ending 30 September 2022.


Boucheron and Pomellato recorded very good performance while Hong Kong-based brand Qeelin held out well against the complex operating environment in China, said Kering.


Sales in all regions increased, with Western Europe (+74 percent) and Japan (+31 percent) showing the strongest growth. North American recorded the lowest year-over-year sales growth by far, with revenue growing only 1 percent.


Revenue growth from directly operated stores fuelled the other houses division’s positive performance, with revenue up 43 percent, compared with a 25-percent drop in wholesale sales.


Kering noted that it continues to focus more on its company-operated stores rather than wholesale channels. (Photo courtesy: Kering)



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