Two luxury companies are selling big to Japanese buyers, not just to tourists taking advantage of the cheaper yen

• Prada Group's Japan sales rose 55% for the first half of 2024, most of it from local customers.
• Other luxury players are seeing more Chinese shoppers flocking to Japan.
• Hermès also reported strong local Japanese customer sales.

Japan's currency might be slumping, but it hasn't stopped Japanese customers from shopping for luxury at Prada and Hermès.

On Tuesday, Prada Group reported a 55% increase in Japan sales revenue, to 309 million euros, or around $334 million, in the first half of this year — the largest year-over-year growth for all of its regions. Japan made up 13% of Prada's total revenue.