Weak

Finally finally reached out to the currency costs on the key Japanese luxury market, weighing on sale by the Cartier-Cartier owner Richemont.

Japan’s sales Swiss Luxury Group decreased by 15% compared to last year with permanent exchange rates in the first financial quarter, said on Wednesday in its financial sales report in the first quarter.

It follows 59% of the revenue jump in the same quarter of last year, as it has a weaker it caused an increase in international tourism and luxury costs.

The shares increased by 0.6% to 8:35 am in London.

A Japanese yen Last year, it started steadily after the Japanese Bank graduated from negative interest rates and stopped the profitability control policy in March. In June of the same year, the Japanese currency weakened 38-year-old lowscrossing the mark 161 to the dollar.

Richemont, whose brands also include Van Cleef & Arpels and BuCCellrati, have used this weakness throughout the year, reporting 20% to 25% of sales in Japan for a row.

It was not alone. Other large luxury groups Lvmh. Dry and Burberry All noted thatIn particular, Chinese buyers who flock into East Asia.

However, the recent strengthening in the first half of 2025 paid these trends.

“In Japan, sales decreased by 15% compared to demanding +59% comparative in the previous period, and strengthening it greatly reducing tourist costs, primarily from Chinese customers, while local demand remained positive,” Ryshemon said, which accompanies the results on Wednesday.

However, Richemont has emerged rare people in a broader luxury decline because the demand among wealthy buyers for their high -class jewelry continues to shine.

Income in the Swiss luxury group increased by 6% compared to last year with permanent courses to 5.41 billion euros (6.28 billion) three months before the end of June, slightly ahead of analysts 5.37 billion euros in the LSEG survey.

Sales in Jewelry Group Maisons continued to charge the charge11% height in constant courses.

The income from the Division Specialist Producers IT, which presents Piaget and Roger Dubuis, nevertheless continued to fall behind, declining by 7% during this period.

The group said the weakness largely reflected the decline in sales in China, Hong Kong, Macau and Japan, even when sales in America grew.