French luxury house Hermès saw its stock fall sharply by 11% after reporting weaker-than-expected revenue growth of just 5.6%, a significant slowdown for a brand long considered immune to economic turbulence. Analysts point to reduced consumer appetite in key markets affected by tensions surrounding the Iran conflict as a contributing factor to the subdued figures. The drop is notable given that Hermès, renowned for its iconic Birkin bag and commanding some of the highest price points in the luxury sector, has historically outperformed rivals even in difficult conditions.