LVMH Chief Warns Iran Conflict Risks 'World Catastrophe' for Global Economy

28 articles · Updated · Financial Times · Apr 23

LVMH CEO Bernard Arnault has warned that the ongoing Middle East conflict, particularly the Iran war, could trigger a 'world catastrophe' with severe economic consequences.
Arnault highlighted the conflict's impact on luxury sales, halving LVMH's first-quarter growth and causing a significant decline in demand, especially in the Middle East and Europe.
He stressed that a swift resolution could restore business growth, but ongoing instability threatens the luxury sector’s recovery and global economic stability.

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