LVMH Sales Hit by War

LVMH Moët Hennessy Louis Vuitton has become the first major luxury group to reveal the financial toll of the ongoing war in Iran, reporting weaker-than-expected sales across its key markets.

The conglomerate noted that geopolitical instability has particularly impacted mall sales in Dubai and Abu Dhabi, which had previously been the industry's fastest-growing region.

Analysts warn that rising energy costs and global economic uncertainty are dampening demand for high-end fashion and spirits.

The disappointing performance has sent ripples through European markets, with other luxury brands also seeing their stock prices slide in anticipation of a prolonged downturn.