AI IPO Wealth Seen Supporting Luxury Demand Hit by Iran War, Bain Says

The luxury sector is expected to grow more slowly than previously forecast because of the Iran war, but new wealth from a SpaceX listing and potential US share sales by OpenAI and Anthropic could help offset the impact on high-end demand, according to Bain & Co., Bloomberg reported. Bain said the wealth creation could provide support for brands selling expensive handbags and watches.