Richemont, LVMH and Luxury Giants Take a Hit as U.S.-Israel Strikes on Iran Rattle Markets and Shut Gulf Stores
Billionaires Africa | 03.03.2026 03:34
The luxury industry woke up Monday to a crisis it has been dreading since regional tensions began building last year. U.S. and Israeli strikes on Iran over the weekend killed Supreme Leader Ayatollah Ali Khamenei and triggered retaliatory missile and drone attacks across the Gulf, sending shockwaves through an industry that has poured billions into the Middle East and counts the region among its most important growth markets.
