Richemont's Resilient Jewelry Sales Offset Decline in Chinese Market

The luxury group's Q1 results show a 1% sales increase despite a significant drop in China, with strong performances in Japan and the Americas.

Richemont's overall sales rose to €5.3 billion, a 1% increase at constant exchange rates.
Jewelry brands like Cartier and Van Cleef & Arpels saw a 4% rise in sales, mitigating declines in other areas.
Sales in China, Hong Kong, and Macau fell by 27%, contributing to an 18% drop in the Asia Pacific region.
Japan emerged as a bright spot with a 59% sales increase, driven by strong domestic and tourist demand.
The company's specialist watchmakers experienced a 13% decline, but resilient performance from brands like Vacheron Constantin helped.