Kering, the luxury conglomerate housing prestigious jewellery brands like Boucheron, Pomellato, and Qeelin, has faced a challenging Q3 in 2024. The group reported a 15% decline in overall revenue to \u20ac3.8 billion, with a 16% drop on a comparable basis compared to the same period in 2023. However, Kering\u2019s jewellery houses demonstrated resilience, contributing to a relatively stable performance amid the downturn.<\/p>\n
While the broader luxury sector, including Kering\u2019s fashion houses like Gucci and Yves Saint Laurent, faced declining sales, the company\u2019s jewellery brands have continued to deliver steady results. Boucheron, Pomellato, and Qeelin reported consistent demand, and new expansion initiatives are in progress.<\/p>\n
Notably, Boucheron opened its first US boutique on Madison Avenue, New York, in September 2024, signalling the brand\u2019s growing presence in the North American market. Further expansions are planned for Las Vegas, Los Angeles, and Miami by 2025, reflecting Kering\u2019s confidence in its jewellery brands\u2019 growth potential.<\/p>\n
Despite challenges in other sectors of the business, including a significant decline in Gucci\u2019s revenue (down 26% year-on-year), Kering\u2019s jewellery houses have shown resilience in difficult market conditions.<\/p>\n
Looking ahead, Kering remains cautious due to economic and geopolitical uncertainties impacting luxury demand. However, the company remains committed to its strategy of focusing on high-quality growth, particularly in its jewellery sector, which continues to perform solidly against the backdrop of challenging market conditions.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kering, the luxury conglomerate housing prestigious jewellery brands like Boucheron, Pomellato, and Qeelin, has faced a challenging Q3 in 2024. The group reported a 15% decline in overall revenue to \u20ac3.8 billion, with a 16% drop on a comparable basis compared to the same period in 2023. However, Kering\u2019s jewellery houses demonstrated resilience, contributing to…<\/p>\n","protected":false},"author":1,"featured_media":28355,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-28354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n