Swiss luxury group Richemont reported a 6% year-over-year increase in quarterly sales, reaching €5.41 billion, slightly below the expected €5.44 billion. The growth was primarily driven by an 11% rise in its jewelry division, led by strong performances from Cartier and Van Cleef & Arpels. This growth outpaced the consensus estimate of 8.6% for the jewelry segment and offset a 7% decline in watch retail sales. The company saw double-digit sales increases in Europe, the Americas, and the Middle East & Africa, which more than compensated for a 15% sales decline in Japan on a constant currency basis and stable sales in the Asia Pacific region. The weaker yen and stronger euro influenced luxury spending patterns, with U.S. buyers increasing purchases by 17% at Richemont. Despite a broader slowdown in the luxury market, Richemont demonstrated resilience, particularly in the high-end jewelry sector. In contrast, the Swatch Group, another major player in luxury watches, reported continued declines in sales and profits, largely due to weak demand for luxury timepieces in China and challenges outside the Chinese market.