Kering Launches Standalone Jewelry Division, Names Duplaix CEO

Jean-Marc Duplaix already carried the title of chief operating officer at Kering. As of March 16, he has a second one: chief executive officer of Kering Jewelry, the Paris-based luxury group's newly created standalone division bringing together four of fine jewelry's most storied names.

The new entity consolidates Boucheron, Pomellato, Dodo, and Qeelin under a single integrated operating platform, with the CEOs of all four maisons now reporting directly to Duplaix. In a corporate statement, Kering said the division was created to "structure and accelerate" the growth of its jewelry business, supporting each house's creative identity and the development of iconic and High Jewellery collections. Kering Jewelry also absorbs the group's industrial capabilities, including the Raselli Franco Group, the Italian manufacturer whose staged acquisition Kering began in 2025.

Duplaix's appointment is effective immediately and his COO responsibilities remain intact. Those include oversight of finance, mergers and acquisitions, investor relations, real estate, digital operations, and the general secretariat. His path to this dual role spans three decades: he began in 1994 at Arthur Andersen, spending ten years in auditing and consulting for major CAC 40 companies before joining M6 in 2005 as deputy CFO. He came to Kering in 2012 as chief financial officer, held the role of deputy CEO, and was appointed COO in September 2025.

Kering CEO Luca de Meo framed the launch in unambiguous terms. "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," de Meo said. "I am delighted with the appointment of Jean-Marc. His experience will be instrumental in unlocking the group's full potential in jewelry."

The launch arrives at a difficult moment for the group. Kering recorded a third consecutive year of declining sales in 2025, closing the year with revenue of €14.7 billion across its 44,000-person workforce. De Meo acknowledged the pressure directly: "This revenue level reflects the low point of the cycle and the starting point of our rebound. We will see growth in 2026 and increasing margin for all the brands."

The jewelry division is one piece of a broader structural overhaul. Kering has reorganized its financial reporting into three segments: Fashion and Leather Goods, Jewelry, and Eyewear. The company also established two new organizational wings, Industry and Client, as part of a centralization effort to move away from its historical holding-company structure. One strategic aim, noted by analysts covering the group, is reducing Kering's reliance on Gucci and rebalancing the portfolio toward categories with more consistent growth. Jewelry, which commands strong margins and has demonstrated resilience in luxury downturns, fits that logic. But the competitive landscape is formidable: LVMH's Bulgari and Richemont's Cartier and Van Cleef and Arpels hold commanding positions, meaning Kering Jewelry will need significant investment, targeted acquisitions, and a distinct creative voice to close that gap.