France protests cause estimated €1.2 billion in insurance damages

Recent unrest in France has resulted in estimated insurance damages ranging from €1 billion to €1.2 billion, a significant increase compared to the €730 million in damages recorded during 2023 riots. According to Morningstar estimates reported by the Financial Times, at least 3,000 businesses were affected by the violence.

Luxury brands including Louis Vuitton, Hermès, Burberry, and Kenzo were primary targets of attacks and organized looting. In Paris, masked individuals attempted to breach a Louis Vuitton store at Place Vendôme, while a Kenzo boutique in Rue Royale was looted and Ralph Lauren storefronts were damaged. In Marseille, Louis Vuitton and Hermès stores were also targeted.

The violence, which originated from protests regarding school funding and the high cost of living, also impacted retailers such as Sephora, JD Sports, and Apple, as well as a Tesla showroom and a Société Générale bank branch. In response, the French government is intervening to prevent the resale of looted goods on online platforms like Vinted and Amazon.