Kering reported strong sales for its jewelry houses in the first half of 2025, even as the weak performance of fashion products dented group revenue.
Jewelry outperformed the rest of its division and the group during the six months that ended June 30, the company said Tuesday. Boucheron continued to gain in the US, and Queelin saw substantial growth. Meanwhile, Pomellato launched a new collection in collaboration with Gucci that drew considerable attention.
However, first-half sales for the “other houses” segment — which includes jewelry and watches, as well as other fashion products such as Balenciaga, Alexander McQueen and Brioni — slipped 15% on a reported basis to EUR 1.46 billion ($1.69 billion). In the second quarter, sales dipped 19% to EUR 726 million ($839 million) compared to the same period last year.
Revenue for the Kering group, which also owns fashion brands Gucci and Yves Saint Laurent, fell 16% to EUR 7.59 billion ($8.76 billion). While Asia Pacific and North America still experienced drops, trends in those regions improved versus last year. Japan’s deceleration continued due to a sharp decline in tourism.
Image: A Pomellato store in Doha, Qatar. (Shutterstock)