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Hermès Sales Disappoint as Disruption From Middle East War Bites
6 Articles
6 Articles
Seven weeks of war in the Middle East are slowing down demand in the luxury industry, and LVMH, Kering and Hermès have reported low sales in the first quarter.Middle East buyers are some of the ones spending the most in the world, squandering on shopping malls such as Dubai and other luxury destinations such as Paris and Milan.Unheartening results from three of the most important groups reveal how the impact of cancelled flights and interrupted …
Middle East conflict dents sales at Hermès
Drapers Middle East conflict dents sales at Hermès Middle East sales at Hermès were down 5.9% year on year to €160m (£139m) in the first quarter ended 31 March 2026, at constant exchange rates.The post Middle East conflict dents sales at Hermès appeared first on Drapers.
Global luxury fashion stocks fell in unison. Hermès fell double digits, while Kering and Gucci also suffered due to the Middle East conflict and declining sales in the first quarter of 2026.
The Middle East conflict is slowing down the luxury goods industry and has now also affected Hermès, a sector leader considered particularly resilient. Shares in the French company, known for its Birkin bags and colorful silk scarves, plummeted 14 percent on Wednesday after the release of disappointing quarterly figures, falling to their lowest level in more than three years.
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