Shopkeepers running at a cartier store at Ginza’s high-end shopping district in Tokyo, Japan.
Anadolu | Getty images
The cost of a currency-fuel in the major Japanese luxury market is eventually finished, weighing on sales on cartier-owners Richmont,
Japan’s sales of Swiss luxury group declined by 15% year-on-year at continuous exchange rates in the first quarter of the financial year, stating in its financial quarter sales report on Wednesday.
It follows a 59% jump in revenue in the same quarter last year, as a weak yen increased international tourism and luxury expenses.
The stocks were up 0.6% at 8:35 pm at London.
Japanese yen The Bank of Japan began continuously depreciation last year after the Bank of Japan ended negative interest rates and ending its produce curve control policy in March. In June of that year, Japanese currency weakened 38 years climbCrossing the 161 mark against the dollar.
Richmont, whose brands also include van Clephs and Arpels and Bookselty, benefited from the entire weakness last year, continuously reported a 20% to 25% sales increase in Japan in quarters.
It was not alone. Other major luxury groups LVMH, Kerning And barbari Everyone noted the utticIn particular, Chinese shopkeepers come to East Asian country.
However, the recent stronger of Yen in the first half of 2025 has paid those trends.
Yen/USD
Richmont said in a statement with Wednesday’s results, “In Japan, a demand in the pre-year period +59% sales fell by 15% compared to the sales, a strong yen, with a strong reducing tourist expenses, especially from Chinese customers, while the local demand remained positive.”
Richmont has still emerged a rarely in a broad luxury recession, as the demand between the rich shopkeepers for its high end ornaments keeps on shining.
Revenue in the Swiss luxury group increased by 5.41 billion euros ($ 6.28 billion) at 6% year-on-year consecutive exchange rates to the end of June, slightly ahead of the 5.37 billion euro forecasting by analysts in an LSEG pole.
Group’s Jewelry Messon Division Sale Continue to lead the chargeContinuous exchange rates are increasing by 11%.
Revenue within the IT Specialist Watchmakers Division, including Piyagate and Roger Dubuis, continued to fall behind by 7% decline in this period.
The group stated that weakness significantly reflects declining sales in China, Hong Kong, Macau and Japan, even as sales in the US.
