diff --git a/dev/archery/archery/release.py b/dev/archery/archery/release.py
index a6b9ecc4225..acfe3fc2373 100644
--- a/dev/archery/archery/release.py
+++ b/dev/archery/archery/release.py
@@ -37,18 +37,21 @@ def cached_property(fn):
 
 class Version(SemVer):
 
-    __slots__ = SemVer.__slots__ + ('released', 'release_date')
+    __slots__ = ('released', 'release_date')
 
-    def __init__(self, version_string, released=False, release_date=None):
-        semver = SemVer.parse(version_string)
-        super().__init__(**semver.to_dict())
+    def __init__(self, released=False, release_date=None, **kwargs):
+        super().__init__(**kwargs)
         self.released = released
         self.release_date = release_date
 
+    @classmethod
+    def parse(cls, version, **kwargs):
+        return cls(**SemVer.parse(version).to_dict(), **kwargs)
+
     @classmethod
     def from_jira(cls, jira_version):
-        return cls(
-            version_string=jira_version.name,
+        return cls.parse(
+            jira_version.name,
             released=jira_version.released,
             release_date=getattr(jira_version, 'releaseDate', None)
         )
diff --git a/dev/archery/archery/tests/test_release.py b/dev/archery/archery/tests/test_release.py
index ed7732df480..75aac892123 100644
--- a/dev/archery/archery/tests/test_release.py
+++ b/dev/archery/archery/tests/test_release.py
@@ -69,17 +69,17 @@ def __init__(self):
 
     def project_versions(self, project='ARROW'):
         return [
-            Version("3.0.0", released=False),
-            Version("2.0.0", released=False),
-            Version("1.1.0", released=False),
-            Version("1.0.1", released=False),
-            Version("1.0.0", released=True),
-            Version("0.17.1", released=True),
-            Version("0.17.0", released=True),
-            Version("0.16.0", released=True),
-            Version("0.15.2", released=True),
-            Version("0.15.1", released=True),
-            Version("0.15.0", released=True),
+            Version.parse("3.0.0", released=False),
+            Version.parse("2.0.0", released=False),
+            Version.parse("1.1.0", released=False),
+            Version.parse("1.0.1", released=False),
+            Version.parse("1.0.0", released=True),
+            Version.parse("0.17.1", released=True),
+            Version.parse("0.17.0", released=True),
+            Version.parse("0.16.0", released=True),
+            Version.parse("0.15.2", released=True),
+            Version.parse("0.15.1", released=True),
+            Version.parse("0.15.0", released=True),
         ]
 
     def project_issues(self, version, project='ARROW'):
@@ -92,7 +92,7 @@ def fake_jira():
 
 
 def test_version(fake_jira):
-    v = Version("1.2.5")
+    v = Version.parse("1.2.5")
     assert str(v) == "1.2.5"
     assert v.major == 1
     assert v.minor == 2
@@ -100,7 +100,7 @@ def test_version(fake_jira):
     assert v.released is False
     assert v.release_date is None
 
-    v = Version("1.0.0", released=True, release_date="2020-01-01")
+    v = Version.parse("1.0.0", released=True, release_date="2020-01-01")
     assert str(v) == "1.0.0"
     assert v.major == 1
     assert v.minor == 0
@@ -228,43 +228,43 @@ def test_release_basics(fake_jira):
 def test_previous_and_next_release(fake_jira):
     r = Release.from_jira("3.0.0", jira=fake_jira)
     assert isinstance(r.previous, MajorRelease)
-    assert r.previous.version == Version("2.0.0")
+    assert r.previous.version == Version.parse("2.0.0")
     with pytest.raises(ValueError, match="There is no upcoming release set"):
         assert r.next
 
     r = Release.from_jira("2.0.0", jira=fake_jira)
     assert isinstance(r.previous, MajorRelease)
     assert isinstance(r.next, MajorRelease)
-    assert r.previous.version == Version("1.0.0")
-    assert r.next.version == Version("3.0.0")
+    assert r.previous.version == Version.parse("1.0.0")
+    assert r.next.version == Version.parse("3.0.0")
 
     r = Release.from_jira("1.1.0", jira=fake_jira)
     assert isinstance(r.previous, MajorRelease)
     assert isinstance(r.next, MajorRelease)
-    assert r.previous.version == Version("1.0.0")
-    assert r.next.version == Version("2.0.0")
+    assert r.previous.version == Version.parse("1.0.0")
+    assert r.next.version == Version.parse("2.0.0")
 
     r = Release.from_jira("1.0.0", jira=fake_jira)
     assert isinstance(r.next, MajorRelease)
     assert isinstance(r.previous, MajorRelease)
-    assert r.previous.version == Version("0.17.0")
-    assert r.next.version == Version("2.0.0")
+    assert r.previous.version == Version.parse("0.17.0")
+    assert r.next.version == Version.parse("2.0.0")
 
     r = Release.from_jira("0.17.0", jira=fake_jira)
     assert isinstance(r.previous, MajorRelease)
-    assert r.previous.version == Version("0.16.0")
+    assert r.previous.version == Version.parse("0.16.0")
 
     r = Release.from_jira("0.15.2", jira=fake_jira)
     assert isinstance(r.previous, PatchRelease)
     assert isinstance(r.next, MajorRelease)
-    assert r.previous.version == Version("0.15.1")
-    assert r.next.version == Version("0.16.0")
+    assert r.previous.version == Version.parse("0.15.1")
+    assert r.next.version == Version.parse("0.16.0")
 
     r = Release.from_jira("0.15.1", jira=fake_jira)
     assert isinstance(r.previous, MajorRelease)
     assert isinstance(r.next, PatchRelease)
-    assert r.previous.version == Version("0.15.0")
-    assert r.next.version == Version("0.15.2")
+    assert r.previous.version == Version.parse("0.15.0")
+    assert r.next.version == Version.parse("0.15.2")
 
 
 def test_release_issues(fake_jira):