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Hermes International SCA disappointed with sales dipping by 5.9% in the region.
Hermes saw Middle East sales drop 5.9%, causing a $20 billion loss in market value.
KEY POINTS
- Kering's retail revenue in the Middle East fell 11% during the first quarter of the year.
- LVMH reported that the Middle East war cut its group organic growth by about one percentage point.
- Breitling cut shipments to the Middle East due to reduced tourism and flight schedules.
COMPANIES
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