Luxury stocks have been hard hit by the Iran war, as the Middle East had been a fast-growing market for the otherwise largely muted sector.

CNBC's Robert Frank reports on how the Iran war impacting luxury goods retailer LVMH. Got a confidential news tip? We want to hear from you. Sign up for free newsletters and get more CNBC delivered to ...

"The world is now in a pretty serious crisis in the Middle East," LVMH CEO Bernard Arnault told shareholders at the company's Annual General Meeting in Paris on Thursday. It could result in a "world ...