The recent global cryptocurrency market crash casts a shadow over the future prospects of European luxury brands. There are diminishing expectations for a rapid recovery in the luxury sector due to the ongoing tariff turmoil.
In light of the recent market downturn, Bernstein has revised its luxury sales forecast, shifting from a 5% growth prediction to a 2% decrease.
Direct effects of tariffs are not the only concern for the luxury industry. An impending recession, fueled by this cryptocurrency market crash, is viewed as a more significant threat to the luxury sector.
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