A new standalone division places jewelry at the center of Kering’s next growth chapter, with Jean-Marc Duplaix tapped to lead the unit as the group sharpens its operating structure
Key Takeaways:
- The move adds reporting transparency and positions jewelry as a more strategic pillar for the group.
- Kering has created a standalone jewelry division led by Jean-Marc Duplaix.
- The unit includes Boucheron, Pomellato, Dodo, and Qeelin.
- Jewelry delivered stronger recent growth than Kering’s fashion and leather goods business.
Kering is giving jewelry a more central role in its recovery strategy, creating a dedicated division for Boucheron, Pomellato, Dodo, and Qeelin as it looks to build scale in one of its healthier categories.
The French luxury group has appointed Jean-Marc Duplaix chief executive officer of the newly formed Kering Jewelry unit, effective immediately. Duplaix will continue in his role as group chief operating officer, while the CEOs of the jewelry houses will now report directly to him. The move formalizes jewelry as a distinct operating pillar inside the company and signals where Kering sees room for expansion as it works to stabilize broader performance.
The new structure is designed as an integrated platform intended to support the development of each house while preserving its creative identity. Kering said the division will help drive growth across iconic and high jewelry collections, while also opening opportunities for its fashion and leather goods houses to deepen their presence in the category.
Beginning in the first quarter of 2026, Kering will report across four operating segments: fashion and leather goods, jewelry, eyewear, and corporate and other. The change gives investors a clearer view into performance by category, distribution channel, and, in the case of fashion and leather goods and jewelry, by region. For a group under pressure to restore confidence, that added transparency carries strategic weight.
The timing is telling. Kering is in the midst of a broader reset under chief executive officer Luca de Meo, who is working to revive a group still grappling with prolonged softness, especially at Gucci. Jewelry, by contrast, has emerged as a category with stronger momentum. In the fourth quarter of 2025, Kering’s jewelry sales rose 10 percent to 266 million euros, with organic growth reaching 17 percent. For the full year, the division generated 935 million euros in revenue.
That remains modest beside the group’s 12.2 billion euros in annual fashion and leather goods sales. Still, the comparison underscores the opportunity. Jewelry is smaller in scale, though it is currently showing stronger energy and clearer upside.
The new division also absorbs Raselli Franco Group, the family-owned Italian manufacturer Kering acquired in stages. Its inclusion points to a more vertically integrated approach, with production expertise and technical capability positioned as part of the growth plan. Kering described Raselli Franco’s value in terms of advanced know-how and manufacturing technology, suggesting that operational depth will be as important as design in this next phase.
De Meo has already indicated that jewelry will be a meaningful area of focus. Following Kering’s annual results in February, he pointed to growth potential in the segment and highlighted the possibility of expanding jewelry across the group’s fashion labels as well. That ambition reflects a broader view of jewelry as a business with reach across categories, price points, and consumer entry strategies.
For Kering, this is more than an organizational adjustment. It is a signal about where the group believes momentum can be built, where category strength already exists, and how future growth may be shaped beyond handbags. With a Capital Markets Day scheduled for April 16 in Florence, the new division offers an early indication of the priorities likely to define de Meo’s roadmap.