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Middle East war weakens luxury industry
In March, LVMH's sales plunged by 50% in Gulf countries, according to figures released by the world's leading luxury group on Monday.
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cnbc.com
LVMH sales miss expectations as luxury recovery is put on pause amid Middle East war
The luxury sector had shown some signs of a long-awaited recovery after a years-long slump prompted by soft demand from Chinese consumers.
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LVMH stock drops as analysts flag luxury recovery 'party postponed' amid Iran war
There was a deterioration of demand in March as a result of the Middle East conflict, said LVMH CFO Cécile Cabanis.
