Kering saw strong sales in its jewelry and watch divisions in 2021 as all regions in the French luxury conglomerate’s network rebounded.
les at Kering’s “other houses” segment — which includes jewelry and watches as well as other fashion products — surged 43% on a reported basis to EUR 3.26 billion ($3.71 billion) during the year. Revenue at stores that were open a year earlier grew 44%.
“All jewelry houses had an exceptional year,” the owner of high-fashion houses Gucci and Yves Saint Laurent said Thursday [February 17]. “Boucheron enjoyed success in new markets, Pomellato continued to grow at an exceptional pace, and Qeelin saw very rapid expansion.”
Group sales increased 35% on a reported and comparable basis to EUR 17.65 billion ($20.04 billion) and rose 11% compared to 2019. Profit for the full year jumped 48% to EUR 3.18 billion ($3.61 billion). Online sales soared 55%, with the penetration rate doubling over the past two years, Kering noted. E-commerce revenue accounted for 15% of Kering’s total sales during the year, higher than the 13% in 2020, when coronavirus-induced store closures meant customers could only purchase online.
Kering reports ‘exceptional’ year for jewelry
