Gilet jaunes in revolt are seriously affecting (again) French tourism shopping. As reported by some French sources of information, 30 luxury boutiques (among which Burberry, Chanel and Dior), located near the Champs Elysées, have been assaulted and robbed. In particular, Dior’s store, based at 52, Avenue des Champs Elysées, has been devastated: the French fashion house has taken legal action against the violent protesters while filing a claim for damages, which amount to over 1 million euros. On top of that, some Parisian luxury department stores, such as Printemps and Galeries Lafayette, have been forced to close to safeguard and protect themselves. Reuters press agency reports that “such a massive revolt is something unique over the last 50 years”. In fact, most protests and riots took place in Paris luxury shopping areas: Champs Elysées, Rue Saint-Honoré and Avenue Montaigne. According to French Minister of Finance Bruno Le Maire, for some brands “sales have been collapsing by 20 to 40% since the beginning of riots, which started last November 17. It is not advisable to go shopping and walk around, carrying luxury bags and other items, during such a violent wave of social protest”. Most of all, public disorders might seriously jeopardize Chinese shopping: in fact, in Paris, in 2017, Chinese tourists spent more than all other non-European visitors: 4,6 billion dollars. In addition to that, simultaneous Christmas shopping, which traditionally drives sales and seasonal business, could be particularly affected and hit because of the current situation.
Gilet jaunes in revolt cripple Paris luxury sales, as stores are closed, and boutiques are devastated
