business / news / / The Financial Express
By the end of March, roughly $100 billion in market capitalisation had been erased from major luxury conglomerates.
Major luxury brands lost $100 billion in market value due to the Gulf conflict.
KEY POINTS
- Dubai International Airport's closure instantly halted 60% of UAE luxury spending, mostly from tourists.
- Dior and Chanel have shifted strategy, now offering more products under €4,000 to regain lost customers.
- The global luxury customer base shrank by 60 million since 2022, partly due to steep price hikes.
- The Islamabad Accord's ceasefire has allowed Gulf luxury stores to reopen, but tourism recovery remains uncertain.
COMPANIES
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