Terrorist attacks affect luxury sector

Endaba Group

The terrorist attacks in Paris and Brussels have weighed heavily on the luxury sector’s first quarter results. LVMH reported flat growth in its fashion and leather goods division after a slump in tourists to Paris post the attacks. Prada, Burberry and Versace’s results also confirmed that this year has been challenging for them. However, Coach and Estee Lauder have proven the attacks aren’t the be-all and end-all or luxury brands, both showing a promising increase in the market share.