There was a deterioration of demand in March as a result of the Middle East conflict, said LVMH CFO Cécile Cabanis.
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Shares of LVMH
dropped Tuesday after it flagged a hit to sales from the Iran war, overshadowing underlying improvements.
The luxury conglomerate missed sales expectations with organic growth in the quarter amounting to 1%.
LVMH also flagged a 1% negative impact from the Iran war in the quarter.
The luxury sector had shown some signs of a long-awaited recovery after a years-long slump prompted by soft demand from Chinese…
In March, LVMH's sales plunged by 50% in Gulf countries, according to figures released by the world's leading luxury group on…
Arnault warned of "very serious" economic consequences of the Iran war after the conflict hit the luxury conglomerates…
The Middle East has been one of the few bright spots in a sector that is struggling to get sales back on track.
LVMH shares plummeted Wednesday after the French luxury conglomerate reported mixed full-year earnings late Tuesday.
Dubai in the UAE has been the biggest driver of growth in recent years, and the Middle East tensions come at a critical time in…
Middle East war weakens luxury industry
LVMH sales hit as Middle East conflict delays luxury recovery
Wenn der Irankrieg die Luxuserholung stoppt
Tengono i ricavi di Lvmh a 19,1 miliardi, impatto negativo dalla guerra - Notizie - Ansa.it
Tengono i ricavi di Lvmh a 19,1 miliardi, impatto negativo dalla guerra - Ultima ora - Ansa.it
Hermès, primo trimestre inferiore alle attese a causa dalla guerra in Medio Oriente
