Luxury conglomerate Kering reported an “exceptional” year for its jewellery businesses on the back of strong consumer sales and market expansions. Overall revenues from last year well exceeded 2019 levels, the company said.

Group revenues were up a record 35 per cent to EUR17.65 billion (around US$20 billion) from 2020 and 13 per cent from 2019, thanks to outstanding performances from all luxury houses. Kering’s “Other Houses,” jewellers included, generated 2021 revenues of EUR3.26 billion (around US$3.7 billion), a 43 per cent increase from 2020. 

“All jewellery houses had an exceptional year: Boucheron enjoyed success in new markets, Pomellato continued to grow at an exceptional pace and Qeelin saw very rapid expansion,” the group reported.

Kering’s net income reached EUR3.17 billion (around US$3.6 billion), up 48 per cent from 2020. Online sales were also promising, growing at an exceptional pace of 55 per cent. The online channel’s penetration rate doubled in two years, and it now accounts for 15 per cent of total retail sales.

The group, which also owns Gucci, Yves Saint Laurent and Bottega Veneta, said the luxury market is witnessing a significant rebound, driven by consumer appetite for premium goods.

“All our houses are stronger than ever before, and we are confident we will extend last year’s momentum in 2022 and in coming years,” said François-Henri Pinault, chairman and CEO of Kering.