# Shares in French luxury group Hermes sank 14 per cent at the open on April 15.

*business · news · 2026-04-15 · The Straits Times*

## Key points

- Hermes shares fell 14 per cent to a three-year low after war-hit sales in key regions.
- Sales in the Middle East dropped 6 per cent, with Dubai mall sales plunging 40 per cent in March.
- Hermes' overall sales growth of 5.6 per cent missed Visible Alpha consensus of 7.1 per cent.
- Currency fluctuations reduced Hermes’ revenue by €290 million in the first quarter.

**Companies:** Hermes, LVMH, Kering
**Countries:** France, Iran, United Arab Emirates, Singapore, Thailand, United Kingdom, Italy, Switzerland

[Read the full story on The Straits Times](https://www.straitstimes.com/business/birkin-bag-maker-hermes-hit-as-war-deters-shoppers-from-dubai-to-paris)

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