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. © Reuters 2025. Click For Restrictions Sign in or create a forever free account to access complete news. Let's dive in!