The sharp downturn in the important Chinese market slowed down the luxury products company Richemont in the spring quarter. Sales of the manufacturer of Cartier rings and chains, as well as IWC and A. Lange & Soehne watches, rose by one percent in local currencies to 5.27 billion euros, as Richemont announced on Tuesday. The slowdown that had already become apparent last year thus continued. In Greater China, sales fell by 27 percent from April to June. China’s economy has been struggling with declining momentum for some time due to the ongoing downturn in the real estate market and the uncertain situation in the job market.