French conglomerate Kering said its luxury jewellery business performed exceptionally in the first quarter of 2022, thanks to steady demand and a more favourable market sentiment. 

According to the group, all houses posted double-digit revenue increases during the quarter in review. “Other Houses,” where jewellery and watches belong, grew 35.5 per cent to €973.4 million (around US$1.03 billion) in Q1 2022 compared to year-ago figures. 

Kering’s jewellery arm, which includes Boucheron, Pomellato and Qeelin, posted “outstanding performances on iconic lines and well-received novelties.” 

The group, which also owns luxury brands Gucci, Yves Saint Laurent and Bottega Veneta, recorded overall revenues of €4.96 billion (around US$5.24 billion) in the first quarter of 2022, up 27 per cent from 2021.

“We opened 2022 on a very solid first quarter in a more uncertain environment, notably impacted by tightening Covid restrictions in China since March. All our Houses posted double-digit revenue growth in the quarter,” remarked François-Henri Pinault, chairman and CEO of Kering. “While we remain attentive to economic and geopolitical conditions, we invest in all our brands, whose attractivity will continue to fuel our growth and profitability.”