The wave of protests and damage could impact Paris's tourism sector and major luxury brands, causing a material impact on Q3 sales. 🇫🇷
. He also claimed that 1,000 stores have been looted. Despite the uproar, Le Maire believes that the “peak” of the unrest has passed.While high-end boutiques have reportedly been spared the brunt of the losses, the future impact on attractive tourist destinations such as Louis Vuitton and Chanel can’t be underestimated.
Another downside to the riots: canceled fashion shows and parties. Celine was expected to present its men’s show at Paris Fashion Week on July 2, but didn’t move forward with the show. Chloe’s planned celebration of late designer Karl Lagerfeld on June 30 and Courreges’s annual club night on July 1 were also canceled over safety concerns. Plans for Balenciaga’s post-show “couture celebration,” held on July 5 were also canceled.
The U.S. Embassy in Paris has issued a security alert urging Americans to “avoid mass gatherings and areas of significant police activity.” The Chinese Foreign Ministry also advises visitors to “pay close attention to the local security situation” and “be cautious when going out.”
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