Kering forms new jewelry division (updated)
16/03/2026 17:03
Recasts throughout, adds detail from company statements PARIS, March 16 (Reuters) - Kering will bundle its jewelry operations with brands like Boucheron and Pomellato in a dedicated new division under the leadership of veteran executive Jean-Marc Duplaix, the group said on Monday. The step aimed at bundling oversight of the brands and their production capacities comes as part of a wider group overhaul engineered by former Renault boss Luca de Meo, Kering's chief executive. The jewelry sector is seen as less exposed to the cycles of the fashion industry and helped some of Kering's main rivals like Cartier-owner Richemont generate growing profits despite a wider sector downturn. De Meo told journalists last month he saw jewelry, a category where Kering so far has a relatively small footprint, as an area to expand further. He also said the group, which historically operates more like a holding structure than an operational hub, needed more centralization of key roles to boost its brands, many of which have been facing falling sales lately. The group also announced it would change the way it reports its financials. Per its new corporate reporting structure, Kering will break down quarterly revenues for its Fashion & Leather Goods, Jewelry and Eyewear branches. Among its individual brands, it will only spell out those of its largest Gucci brand going forward, the company said. (Reporting by Jakob Van Calster and Tassilo Hummel; Editing by Makini Brice) ((jakob.vancalster@thomsonreuters.com))