Kering’s jewelry brands showed mixed results during what the company described as a “difficult start to the year.”
Pomellato, the Italian jewelry brand, had an “excellent quarter,” while Hong Kong-based Qeelin reported “outstanding growth,” according to Kering’s latest financial update.
However, Kering did not release detailed financial results for each jewelry brand. This makes it difficult to fully assess their individual performances. The broader financial figures suggest that not all of Kering’s jewelry houses performed as well.
Overall, Kering’s total revenue across all its brands — including Gucci, Yves Saint Laurent, and Bottega Veneta — fell by 14 percent to $4.2 billion (EUR 3.9 billion) in the first quarter of 2025.
Kering’s “other houses” category, which includes the jewelry brands Boucheron, Pomellato, DoDo, and Qeelin, as well as Balenciaga, Alexander McQueen, and Brioni, saw revenue drop by 11 percent during the same period. This decline was reported both on a published basis and on a comparable basis.
Kering stated that its jewelry houses had “pursued their development,” a comment that offered little detail.
The company added: “Boucheron achieved a robust performance over a high comparison base, Pomellato had an excellent quarter, driven in particular by new pieces in its Nudo line, and Qeelin achieved outstanding growth.”
For the full year 2024, Kering’s “other houses” division, which includes its jewelry brands, reported a revenue decline of 8 percent.
François-Henri Pinault, chairman and CEO of Kering, commented on the group’s performance. He said: “We are increasing our vigilance to weather the macroeconomic headwinds our industry faces, and I am convinced that we will come out stronger from the present situation.”
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