Major European fashion companies are holding their breath. They are waiting to see how the markets and their stocks will develop after the outbreak of the new military conflict between the USA, Israel and Iran. The war has caused instability in the Persian Gulf region. The situation has been characterized by uncertainty since last Saturday, which spread to the markets on Monday.
In the fashion industry, Monday’s performance by major global listed companies appeared to accurately predict the expected economic impact of the conflict in the Gulf region, depending on geography. Shares of European fashion companies fell without exception. From mass market players to luxury and sportswear specialists, they recorded declines of between four and more than six percent during the trading session. The US fashion industry, on the other hand, does not seem to expect the outbreak of war in Iran to have any significant impact on its business activities.
The reason for this different development of fashion companies on both sides of the Atlantic lies in commercial tensions. These tensions are putting a strain on the sector’s value chains due to instability in the Gulf region. These supply chains will impact shipments from Asia and India to the Middle East, the Mediterranean, Europe and the US East Coast. Meanwhile, logistics companies like Maersk are already responding to the situation and redirecting their ships from the Strait of Hormuz and the Suez Canal to the Cape of Good Hope.
Overall, however, the United States is unlikely to be as badly affected by the unrest in the Gulf caused by its own and Israeli military. They benefit from their additional connection to Asian producers across the Pacific Ocean. This geostrategic advantage, combined with the increasing relocation of production to nearby countries (nearshoring) by US companies and the country’s energy independence from oil from the Gulf region, allows major North American fashion companies to mitigate the effects of the conflict.
Looking at how the conflict in Iran is beginning to impact the share prices of major listed fashion companies, the sector’s performance was mixed last Monday. The spectrum ranged from a slight increase in shares of the US company Tapestry (+0.61 percent) to a sharp decline in the German company Puma (-6.23 percent). There were notable cases in between. These include the stagnating closing price of the Swiss sports goods retailer On (+0.60 percent), which is listed in the USA; the declines of Spanish companies Puig (-4.09 percent) and Inditex (-4.78 percent); the losses of the French companies Hermès (-4 percent), LVMH (-4.34 percent) and Kering (-5 percent); and the fall in the share price of Capri Holdings (-5.07 percent). Capri Holdings saw the largest decline for a U.S. company due to its particular reliance on European and Asian markets.
Stock market development of the major listed fashion companies, March 2, 2026
- Tapestry, $155.47 – $156.42 (+0.61 percent)
- On Holding, 46.48 – 46.76 US dollars (+0.60 percent)
- Gap, 28.04 – 28.15 US dollars (+0.39 percent)
- Nike, 61.77 – 61.01 US dollars (-1.23 percent)
- Prada, 43.68 – 43.10 Hong Kong dollars (-1.32 percent)
- H&M, 192.70 – 185.50 Swedish krona (-3.73 percent)
- Hermès, 2,049 – 1,967 euros (-4 percent)
- Salvatore Ferragamo, 6.75 – 6.48 euros (-4 percent)
- Puig, 16.36 – 15.69 euros (-4.09 percent)
- Adidas, 158.20 – 151.35 euros (-4.33 percent)
- Burberry, 1,163 – 1,112.50 pence (-4.34 percent)
- LVMH, 544.10 – 520.50 euros (-4.34 percent)
- Fast Retailing (Uniqlo), 67,750 – 64,770 euros (-4.39 percent)
- Zalando, 20.75 – 19.83 euros (-4.43 percent)
- Inditex, 56.82 – 54.10 euros (-4.78 percent)
- Kering, 285.90 – 271.50 euros (-5 percent)
- Capri Holdings 20.51 – 19.47 US dollars (-5.07 percent)
- Richemont, 157.25 – 148.25 Swiss francs (-5.72 percent)
- Puma, 23.76 – 22.28 euros (-6.23 percent)
This article was created using digital tools translated.
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