Louis Vuitton, Gucci, Hermes luxury sales decline as Iran war hits crucial Middle East demand [Yahoo! Finance]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: Yahoo! Finance
The war, which started in late February, has put a big dent in the $400 billion luxury goods sector. All the big luxury houses are suffering from loss of business from the growing and high-spending Middle East markets, the lucrative travel and aspirational-based clients who spend heavily on vacation, and of course, increased costs due to logistics and materials spending. It all started with LVMH ( MC.PA ), the world's largest luxury conglomerate — behind brands like Louis Vuitton, Christian Dior, Loewe, Bulgari, and Tiffany & Co. A woman holds a Louis Vuitton bag, seen with a soft toy with the Mercedes logo and the number 63 for Mercedes' British driver George Russel, on race day at the Suzuka circuit during the Formula One Japanese Grand Prix in Suzuka, Mie prefecture on March 29, 2026. (Photo by ANDREW CABALLERO-REYNOLDS / AFP via Getty Images) · ANDREW CABALLERO-REYNOLDS via Getty Images LVMH reported Q1 revenue of €19.1 billion, a 6% decline, missing analyst expectations
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