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French luxury goods group Kering has reported positive revenue for the first half of 2023, despite a decline in sales in the US.
Kering oversees brands such as Boucheron, Pomellato, DoDo, and Qeelin. Revenue reached €10.14 billion ($AU16.6 billion) for the half, a two per cent increase compared with the same period in 2022.
This increase in revenue came despite a five per cent decline from the ‘other houses’ division, reaching €1.86 billion ($AU3.04 billion). This division includes jewellery and watch brands.
“Revenue increased strongly at the jewellery houses [brands], with Boucheron leading the way. Total revenue at Pomellato and Dodo was extremely robust,” the company said in a statement.
“Qeelin benefited from the rebound in the Chinese market but was hampered by the slowdown in South Korea.”
While Kering experienced solid sales in the Asia Pacific region, as well as Japan and Europe, sales decreased in the US.
These results mirror recent reports from Richemont and Louis Vuitton Moët Hennessy.
Founded in 1963, Kering owns luxury fashion brands such as Gucci, Balenciaga, and Bottega Veneta.
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