Luxury’s New Era of Uncertainty

This week, Italian sneaker brand Golden Goose postponed its Milan IPO, citing volatile market conditions in the wake of European elections that registered a hard swing to far-right anti-EU parties and French President Emmanuel Macron’s move to call snap legislative elections.

Shares in the Stoxx 600 index of Europe’s leading companies dipped 5 percent as Macron’s decision plunged France, the EU’s second-biggest economy, into uncharted…