Gucci Owner Kering Brings Jewelry Brands Together in New Unit — Update
By Cristina Gallardo and Mauro Orru
Kering said it was establishing a new business unit for its jewelry operations and appointed a chief executive to lead it, bringing Boucheron, Pomellato and other brands under one roof to streamline decision-making.
The French luxury-goods giant said Jean-Marc Duplaix would take the helm of Kering Jewelry with immediate effect. The chief executives of Kering's jewelry houses will all report to Duplaix, who will retain his responsibilities as chief operating officer for the group.
The company said Kering Jewelry would bring together houses like Boucheron, Pomellato, DoDo, and Qeelin, as well as the group's industrial capacities, including jewelry manufacturer Raselli Franco Group.
"With Kering Jewelry, we are giving the group a powerful and cohesive platform capable of supporting our houses' ambitions in an area of expertise where creativity and excellence are inseparable," Kering CEO Luca de Meo said in a statement.
The decision marks the latest effort by de Meo, who took the reins as CEO in September, to turn around the company after several quarters of disappointing sales for its flagship brand Gucci. The group said the new unit would allow it to capitalize on new opportunities and demand for jewelry.
The group said its jewelry houses recorded expansion in the fourth quarter, with double-digit growth at Boucheron, Pomellato maintaining a steady trajectory, DoDo gaining pace and solid momentum at Qeelin.
Meanwhile, Kering announced a new structure of its other businesses, creating a fashion and leather goods segment that will include Gucci, Saint Laurent, Bottega Veneta, Balenciaga, McQueen and Brioni. Still, Kering said it would also continue to report Gucci's performance separately given its significance for the group.
The move brings Kering's business structure in line with that of its rival LVMH Moet Hennessy Louis Vuitton, which also has a fashion and leather goods division housing brands like Louis Vuitton and Dior.
Kering's other businesses include Kering Eyewear and a segment for corporate and other operations. The company said it would report its performance based on the new structure starting from the first quarter.
Write to Cristina Gallardo at cristina.gallardo@wsj.com and Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
March 16, 2026 14:04 ET (18:04 GMT)
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