Luxury: Is Dubai’s safe haven status coming to an end?

As the giants of the CAC 40 publish their quarterly results, an exclusive analysis by Reuters reveals the scale of the upheaval hitting the Middle East. Long considered the sector’s last growth engine, the Gulf is now seeing its sales collapse due to geopolitical tensions with Iran.

Until now, major luxury groups like LVMH, Kering, and Hermès presented the Middle East as a resilient region, offsetting the slowdown in China. This perspective is now obsolete. According to information reported by Reuters, sales for the largest European…