Luxury conglomerate Kering posted strong results for the first half of its fiscal year, seeing double-digit growth in overall revenue and from its jewelry brands.
Revenue for the first half of the year totaled €7.64 billion ($8.51 billion), an 18 percent increase year-over-year.
Second-quarter revenue increased by 13 percent on a comparable basis to €3.85 billion ($4.29 billion).
Kering’s portfolio spans fashion, leather goods, watches and jewelry.
The company refers to top-performing brands Gucci, Yves Saint Laurent and Bottega Veneta as its main “houses,” while brands including Balenciaga and Alexander McQueen, as well as watch and jewelry offerings, are referred to as the “other houses” division.
First-half revenue in the division that includes watches and jewelry totaled €1.23 billion ($1.37 billion), a 20 percent increase on a comparable basis.
Jewelry brands Pomellato, Boucheron and Qeelin saw “strong double-digit growth” with the whole division delivering a strong performance driven by retail, said Kering, and the company reported “encouraging progress” for its watch brand Ulysse Nardin.
Overall, direct sales for the category that includes watches and jewelry increased 32 percent on a comparable basis in the first half while wholesale was up 10 percent.
