Luxury group Kering has announced its first quarter revenue on 24 April 2025. Revenue from the group’s other houses division, which includes jewellery and watches, totalled €733 million (around $831 million) in the first quarter, down 11 percent both as reported and on a comparable basis.
According to the group, its jewellery brands pursued their development. 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.
Group revenue amounted to €3.9 billion (around $4.4 billion) in the first quarter of 2025, down 14 percent both as reported and on a comparable basis. Sales from the directly operated retail network fell by 16 percent on a comparable basis. Trends in Asia-Pacific (-25 percent) were in line with those of the fourth quarter of 2024, while Western Europe (-13 percent), North America (-13 percent) and Japan (-11 percent) saw a sequential deceleration. In the first quarter, the group closed 25 stores on a net basis, bringing its directly operated network to a total of 1,788 units.
François-Henri Pinault, chairman and CEO of Kering, said: “As we had anticipated, Kering faced a difficult start to the year. In this environment, we are fully focused on executing on our action plans to reach our strategic and financial objectives and strengthen the positioning of our houses on all our markets. 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.”
30-04-2025
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