THE IRAN war is rattling the global luxury industry. Stocks like LVMH and Hermès have shed an estimated $100 bil in combined market value since late February.
The Middle East, last year’s fastest-growing luxury market at a growth rate of 6% to 8%, is now facing deep uncertainty.
Dubai’s booming millionaire population and elite retail scene made it a crown jewel for luxury brands.
CNBC’s Robert Frank explains what’s to come for the Middle East’s luxury market during the ongoing conflict in Iran. —Mar 30, 2026
Main image: Vertu
