LVMH Moet Hennessy - Louis Vuitton, Societe Europeenne

Falling demand for branded accessories amid global uncertainty has hit the capital of the empire of France's richest family, the Arnault family

"Confidence barometer": LVMH shares posted their worst-ever quarterly results

The Estee Lauder Companies Inc.

Puig Brands SA

Ferrari N.V.

Rising oil prices, according to analysts' estimates, have raised the risk of recession in the US to 40% and could push inflation in the country to 5%. Automakers are recording supply disruptions and a slump in demand in the Middle East: Ferrari has started delivering supercars by airplanes, and the luxury sector has already lost $100 billion of capitalization. Against this background, OpenAI is preparing for an IPO, disclosing the risks of dependence on Microsoft, chip shortages and litigation, while Elon Musk's SpaceX may conduct the largest placement in history with a valuation of up to $1.75 trillion. The main events from March 23 to 27 - in our review.

Highlights of the week: US recession risks, SpaceX ambitions, war hits the luxury market

Rolls-Royce Holdings plc

Shipping by air is five times more expensive than by sea

'There's nowhere to go': Ferrari has started taking supercars to the Middle East by airplane

Macy's, Inc.

The war in the Middle East has sharply reduced the flow of shoppers in Dubai's shopping centers, a key market for the global luxury industry, the Financial Times <a href="https://www.ft.com/content/f88f97cb-adc7-42d1-aae1-e4bf241d4961?syn-25a6b1a6=1">reports</a>. Amid attacks and logistical disruptions, some retailers have recorded a 60% drop in revenue and warned of the risks of a prolonged downturn.

War in the Middle East hits luxury: sales collapse in Dubai malls

For Spanish Puig securities, today could be the best day in corporate history

Rabanne owner Rabanne's shares rose 15% on the back of a possible deal with Estée Lauder

The merger could result in a $40 billion cosmetics giant

Estée Lauder shares collapsed after the FT reported a possible merger with Spain's Puig

Kering SA

Prada S.p.A.

The US-Israeli war with Iran has created a crisis for luxury brands in Dubai, according to analysts at Bernstein Research. According to their forecast, sales of luxury goods in the Middle East in March may halve due to a sharp drop in the number of foreign tourists, The New York Times <a href="http://www.nytimes.com/2026/03/19/business/dubai-luxury-shopping-iran-war.html">reports</a>.

Dubai crisis: how the war in the Middle East will affect luxury sales

Hermes International Societe en commandite par actions

Burberry Group plc

Investor sentiment towards shares of European luxury goods manufacturers is now the most pessimistic for several years, analysts at UBS, Switzerland's largest bank, have warned. According to their calculations, the war in the Middle East may postpone the long-awaited recovery in demand.

Investor pessimism toward luxury stocks has reached a multi-year high

The luxury group posted its fifth consecutive year of sales growth

Prada increased revenue but warned of pressure on profits due to Versace

Compagnie Financiere Richemont SA

The Middle East is not the largest but an important market for the industry

Luxury stocks have fallen in price due to the U.S.-Iran war. Hermes at a two-year low

NIKE, Inc.

Some limited luxury handbags and sneakers are appreciating faster than stocks in the main U.S. index S&amp;P 500, the platform FashioNica found out. The goods of French brand Hermes, for example, including the world-famous Birkin bags, are particularly quoted. Analysts call luxury goods assets and compare them, for example, to gold.

Handbags vs. AI boom: luxury goods posted better price gains than stocks in the S&amp;P 500

Moncler S.p.A.

The sector could also benefit from Trump's global duty rollback

Luxury Brands