China sales stable as European luxury brands tally first-quarter impact of Iran war

Europe’s luxury sector is heading into the summer with divergent regional prospects: Middle East headwinds are deepening yet underlying momentum is quietly improving, with the American market holding firm and China stabilising.
The war in the Middle East was on everybody’s mind as major European luxury product groups wrapped up their first-quarter earnings season recently, wary that the conflict could derail what was expected to be a year of recovery.
Geneva-based Richemont, which on Friday…

المصدر: SCMP — Tech