With Middle East airspace reopening and the US-brokered ceasefire between Israel and Iran appearing to hold, the luxury fashion sector is still counting on the region's wealthy shoppers to help offset weakness in its main US and Chinese markets – for now.
The Middle East, helped by strong tourist flows and local wealth, has bucked a recent global slowdown in luxury sales that is expected to deepen this year, with some brands growing sales there at double-digit rates.
