Sales at luxury brands in Dubai and Abu Dhabi have contracted sharply, with footfall at the Mall of the Emirates down by 15% and traffic at the larger Dubai Mall down by around 50% in March compared to the previous year. This downturn reflects the broader impact of the Iran conflict on the luxury sector, which has seen a $400 billion contraction over three years.
BUSINESSPublished 13 Apr 2026 • Published 2h ago
Luxury Brands Profit Decline in Dubai Amid Iran Conflict
75% NEUTRAL
The ongoing conflict between the US-Israel and Iran has led to significant disruptions in global aviation and luxury retail, with luxury brand sales in Dubai dropping by 30-50% in March 2026. The International Federation of Air Traffic Controllers’ Associations praised Pakistan's air traffic controllers for managing increased traffic amid regional airspace disruptions, highlighting their crucial role during this crisis.
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PPprofit.pakistantoday.com.pk
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THtribune.com.pk
DAdawn.com