Shoppers walking past a Cartier store at the high-end shopping district of Ginza in Tokyo, Japan. A currency-fueled spending splurge in the key Japanese luxury market has finally abated, weighing on sales at Cartier-owner Richemont. However, a recent strengthening of the yen in the first half of 2025 has put paid to those trends. It follows a 59% jump in revenues in the same quarter last year, as a weaker yen sparked a surge in international tourism and luxury spend. Shares were up 0.6% by 8:35 a.m. London ...

Richemont quarterly sales rose as the Cartier owner proved resilient amid a wider demand downturn for luxury goods https://t.co/NCYKwalWIp ...

Core Viewpoint - Richemont reported a solid start to the fiscal year 2025, with group sales increasing by 6% at constant exchange rates, driven by strong performance in Europe, the Americas, and the Middle East & Africa, despite challenges in Japan and the Asia Pacific region [2][4][5]. Summary by Region - **Europe**: Sales increased by 11% to €1,295 million, supported by robust local demand and positive tourist spending, particularly in Italy and Germany [3][5]. - **Asia Pacific**: Sales decreased by 4% to €1,731 million, with a notable 7% decline in China, Hong Kong, and Macau, offset by growth in other Asian markets [3][5]. - **Americas**: Sales rose by 17% to €1,335 million, driven by strong local demand across all business areas [3][5]. - **Japan**: Sales fell by 15% to €527 million, impacted by a high comparative from the previous year and reduced tourist spending [3][5]. - **Middle East & Africa**: Sales increased by 17% to €524 million, led by the UAE market and higher tourist spending [3][5]. Summary by Distribution Channel - **Retail**: Sales grew by 6% to €3,734 million, accounting for 69% of group sales, with growth across all regions except Japan [3][6]. - **Online Retail**: Sales increased by 6% to €323 million, reflecting robust growth across almost all regions [3][7]. - **Wholesale and Royalty Income**: Grew by 6% to €1,355 million, driven by solid group sales performance [3][6]. Summary by Business Area - **Jewellery Maisons**: Sales rose by 11% to €3,914 million, marking a third consecutive quarter of double-digit growth [3][8]. - **Specialist Watchmakers**: Sales decreased by 7% to €824 million, primarily due to declines in China, Hong Kong, and Macau [3][8]. - **Other (Fashion & Accessories)**: Sales declined by 1% to €674 million, with notable performances from brands like Peter Millar and Alaïa [3][8]. Financial Position - The group maintained a strong net cash position of €7.4 billion as of 30 June 2025, slightly up from €7.3 billion in the previous year, after accounting for a cash-out related to the sale of YNAP [6][9].

Counterfeiters have perfected the knockoff handbag—”superfakes” they are called—and it is disrupting the economics of the luxury industry.🔗: https://t.co/D6iOh8hfeh https://t.co/jov3gNdheq ...

Counterfeiters have perfected the knockoff handbag—”superfakes” they are called—and it is disrupting the economics of the luxury industry https://t.co/Y5Wp09XSOS ...

Deferring College For Prada: Into Alexa Rivera's Unexpected Career Journey https://t.co/slj56otYM2 https://t.co/2pZbFKrhF0 ...

Counterfeiters have perfected the knock-off handbag—and it’s disrupting the economics of the luxury industry. 🔗 https://t.co/vhUAWE5Ol0 https://t.co/MurG4LWMME ...

A Milan court has placed LVMH-owned Italian luxury label Loro Piana under judicial oversight for one year, saying it failed to stop subcontractors from exploiting migrant workers https://t.co/x2EtTGpVx4 ...

Group 1 - Top Win International Limited has partnered with Simon Gerovich and KCGI for a planned investment in SGA Co., Ltd, which has received board approval for a third-party share issuance to this consortium [1][2] - Upon completion of the investment, the consortium will become the largest shareholder of SGA Co., Ltd, with proceeds aimed at strategic asset acquisitions and general corporate purposes [2] - SGA Co., Ltd plans to leverage the consortium's global network and expertise to pursue new initiatives in the digital asset space while maintaining its core business operations [2] Group 2 - Top Win International Limited specializes in the trading, distribution, and retail of luxury watches and has recently ventured into the Web3 ecosystem and digital assets as part of its future business direction [3]

The lineage of Tiger Cubs is full of great investors, many of whom have created vast amounts of wealth for themselves and those who bought into their hedge funds. One such investor, Karthik Sarma, got his start at Tiger Cub Chase Coleman's Tiger Global hedge fund in 2001. In 2006, he started his own hedge fund SRS Investment Management. Today, Sarma manages a portfolio of investments worth over $10 billion for himself and his investors, and his net worth has climbed to $2.9 billion. Sarma shifted as far awa ...