Anonymousabout 3 hours ago
The Iran conflict that erupted in late February 2026 has devastated the luxury industry's fastest-growing market, wiping $176 billion from European luxury stocks, halving sales at major Gulf malls, and forcing brands from LVMH to Kering to shutter stores across the region. The disruption has exposed the fragility of an expansion strategy that bet heavily on Gulf wealth, tourism, and the post-pandemic spending boom — and raised questions about whether geopolitical risk is masking pre-existing softness in the luxury sector's growth thesis.