Tariffs threaten to blow a hole in European luxury sales. Citi picks the winners and losers

Impact of Tariffs on Luxury Brands: Analysts predict a division among luxury brands due to President Trump's new tariffs, which could significantly affect U.S. sales as companies may pass increased costs onto consumers through price hikes.

Winners and Losers: Brands like Birkenstock and Pandora are likely to suffer due to high U.S. exposure and substantial tariff impacts, while companies with lower U.S. revenue exposure or strong pricing power, such as Moncler and Hermes, may better withstand the changes.