Luxury Stocks Fall to Lowest Levels Since 2022 Amid Heightened Demand Concerns

MaticHoleFiller · 2026-03-20T16:42:24+00:00

Affected by the Middle East conflict, rising oil prices triggered a sharp decline in European luxury stocks. Goldman Sachs' luxury stock basket index fell to its lowest level since 2022, with companies like Hermès and LVMH experiencing significant stock price declines, as market concerns about inflation and consumer outlook intensified.

MaticHoleFiller

2026-03-20 16:42:24

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Driven by the rise in oil prices due to Middle East conflicts, market concerns over inflation, interest rates, and the outlook for tourism and discretionary spending have intensified, further deepening the recent decline in European luxury stocks on Thursday.

The Goldman Sachs luxury stock basket index fell 3.8%, closing at its lowest since October 2022.

Hermès led the declines, dropping 5.8%, marking its largest single-day decline since April 2025.

Other luxury stocks included LVMH down 1.8%, Kering down 4.6%, and Richemont down 4.5%, as rising energy costs raised worries about squeezed real income and slowing tourist flows.

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