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Luxury Sales Plummet in Middle East Amid Ongoing Conflict

4/20/2026

46 4 Full Breakdown

Summary

Story summary

The Middle East conflict has severely hit luxury sales, especially in the Gulf.
LVMH, Kering, and Hermès report significant declines, with Dubai foot traffic down up to 70%.
Watches and Wonders Geneva, with 65 brands, faces waning demand for luxury watches.
The Middle East accounts for 5–6% of global luxury sales and is unlikely to recover quickly amid ongoing instability.

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Story summary

The Middle East conflict has severely hit luxury sales, especially in the Gulf.
LVMH, Kering, and Hermès report significant declines, with Dubai foot traffic down up to 70%.
Watches and Wonders Geneva, with 65 brands, faces waning demand for luxury watches.
The Middle East accounts for 5–6% of global luxury sales and is unlikely to recover quickly amid ongoing instability.