Kering Sales Down, but Boucheron Performs Positively
October 30, 23
(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