The war in the Middle East is disrupting retail as well, as the world’s best-performing luxury market is literally under attack. Numerous stores in Dubai and elsewhere remain closed or are operating at minimum capacity.
More and more stores closing
The air strikes in the Middle East are crippling tourism and putting pressure on luxury brands and international corporations. Retail group Chalhoub, which operates 900 stores for brands such as Versace, Jimmy Choo, and Sephora, announced that it would keep its stores in Bahrain closed. In other markets, including the United Arab Emirates, Saudi Arabia, and Jordan, stores will remain open, but only with staff who have volunteered to work, the group told Reuters.
