Kering reported buoyant jewelry-and-watch sales in the first quarter, driven by new collections and extensions of certain product lines.
“Watches and jewelry performed very well this quarter,” the company said Wednesday. “The strengthened positioning of [jewelry brands] Boucheron, Pomellato and Qeelin are paying off, thanks to new collections, extended iconic lines, and investments in communications and store networks. Watches also turned in a good performance this quarter.”
The luxury retailer also reported a “robust” jewelry performance in the Asia-Pacific region.
Group sales, including the company’s high-fashion houses such as Gucci and Yves Saint Laurent, jumped 27% to $3.8 billion (EUR 3.11 billion). Revenue from other houses, which include watches and jewelry, as well as couture and leather goods, ready-to-wear and shoes, climbed 31% to $565.8 million (EUR 463.3 million).