French luxury shops tighten security before Saturday protests

Paris, France. Luxury retailers in France have covered display windows with boards and brought in more guards ahead of Saturday’s protests, with some choosing not to open. The precautions follow rioting the previous weekend, when hundreds of shops were damaged and looted in Paris, Marseille and Bordeaux.

Closures and stronger protection

Employees said a Rolex retailer and a De Beers shop close to Place Vendome in Paris would stay shut on Saturday. Managers at other retailers, including IWC, owned by Richemont (CFR.S), said the scale of the demonstrations would determine whether they closed earlier than usual.

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Staff at Louis Vuitton, Dior and Bulgari, all LVMH brands, said they were unwilling to take risks and had strengthened protection for their shops around Place Vendome for the day. Extra private guards were also planned to complement police deployed in the area.

A spokesperson for the nearby Printemps department store said it had hired additional security personnel, completed safety repairs and introduced further protection for its windows and entrances.

Hermes finance chief Eric du Halgouet said during the week that security had been stepped up across the company’s stores in France. He said the effect of the recent unrest on business could not yet be assessed.

Demonstrations and police deployment

UNEF, France’s leading student union, and the Yellow Vest group were among organisations planning a march through central Paris later on Saturday over the high cost of living and reductions in public services. The Yellow Vest movement became a powerful anti-establishment force in 2018.

Interior Minister Laurent Nuñez announced on Friday that 70,000 officers would be deployed by his ministry, with support from specialist units, to stop a repeat of the previous week’s violence.

Pressure on luxury sales

France ranks first worldwide for visitor numbers, attracting many international shoppers looking for products such as handbags from Chanel and scarves from Hermes. Their spending provides significant revenue for luxury brands already confronting weaker demand.

For the image-sensitive luxury sector, further adverse publicity comes amid gloomy consumer sentiment around the world. Tourism has also slowed because of the Iran war, contributing to quarterly results from Hermes and Kering this month that fell short of expectations.