In response to recent riots that led to widespread looting in major cities like Paris, Marseille, and Bordeaux, luxury retailers in France are preparing for further protests by boarding up their windows and enhancing security measures.
Notable brands such as Rolex and De Beers have opted to close their stores, while others like IWC are monitoring the situation closely to determine their operational status. The protests, organized by groups including the student union UNEF and the Yellow Vest movement, are primarily focused on high living costs and public service cuts.
Interior Minister Laurent Nuñez has announced the deployment of 70,000 police officers to maintain order. The luxury sector, which has already been facing challenges due to declining consumer sentiment and tourism impacts from global events, is particularly vulnerable to negative publicity.
Executives from companies like Hermes have acknowledged the uncertainty surrounding the potential impact of these events on business. The overall mood among consumers appears to be cautious, with some tourists expressing reluctance to shop in France due to safety concerns, which could further affect sales for luxury brands