Local Chorus
Local news from local sources, read in your language.
Developing
Verified

French riots hit at least 3,000 businesses; insurance losses put at up to 1.2bn euros

🇰🇷 South Korea, Paris 13:57 Society Business4 Tech updated 2 h ago first reported by 뉴시스

In short

Protests over living costs and school funding in France turned into riots and looting, and French officials say at least 3,000 businesses were affected. Morningstar estimated insurance losses at 1.0 to 1.2 billion euros, and the government ordered night curfews in several cities.

Read the full story 3 min read

Riots and looting that followed protests across France have affected at least 3,000 businesses, according to Korean outlets citing French officials. Commerce Minister Serge Papin said an initial count showed at least 3,000 businesses nationwide were affected, and the government said it would provide emergency financial and employment support to the firms concerned. Prime Minister Sébastien Lecornu said on 19 October that night curfews had been ordered in parts of Paris, Nice and Lille. Chosun Ilbo reported that the curfew, which covered areas of Paris, Lyon, Bordeaux, Lille and Nice, ran for a second consecutive day through the night of 20 October. [ 2 , 3 , 4 , 6 ]

The protests began over living costs and a lack of school or public-sector funding, and Newsis said they had started in September. Chosun Ilbo reported that 550,000 people protested nationwide on 17 October, more than double the 200,000 the police had expected. It said far-left groups attacked public offices before the march began, tying up police, while groups of young people and minors who had gathered through social media looted shops. Authorities said more than 2,500 people had been arrested, and Lecornu told parliament on 20 October that many more arrests would follow, particularly of those who stole goods. [ 3 , 4 , 6 , 8 ]

Citing the Financial Times, Newsis and ZDNet Korea reported that six masked people tried to break the window of a Louis Vuitton store on Place Vendôme in Paris with a road barrier, but the special glass held. A Ralph Lauren window nearby was broken and a Kenzo store was looted. The same reports said Louis Vuitton and Hermès stores in Marseille were looted, a Burberry store in Paris was attacked, and JD Sports, about 20 Sephora stores and an Apple store in Lille were hit. Chosun Ilbo said Carrefour lowered its annual earnings target after about 50 of its stores were raided on the first day, with a hit to profitability of up to 200 million euros expected. A later Newsis report on a video described about 20 people attacking the Vendôme store and said it reopened the next day. [ 3 , 4 , 6 , 8 ]

Morningstar estimated insurance losses at 1.0 to 1.2 billion euros, above the 730 million euros it cited for the 2023 French riots. Chosun Ilbo said AXA and other major insurers extended the deadline for filing claims from 5 days to 30. A Chosun Ilbo summary said large riots have occurred every year since 2023, but a decree under which the state shares the losses, as with natural disasters, has not yet come into force. French ministers also met Vinted, Amazon, eBay, Meta and TikTok on 19 October to discuss removing suspicious listings and identifying sellers. [ 3 , 4 , 6 , 7 ]

Kukmin Ilbo reported that explanations for the escalation include police use of force against minors, as the New York Times reported, and the lack of institutions to mediate conflict, as an Edinburgh University professor told Foreign Policy. It said French prosecutors and the police inspectorate were investigating at least 34 suspected cases of police misconduct. The Financial Times, as reported by Newsis, said the usual coordination between unions and police had not taken place. Lecornu said the rioters were part of organised far-left groups and blamed Jean-Luc Mélenchon, who denied inciting violence. Marine Le Pen blamed the far left and Mélenchon, while Raphaël Glucksmann said the government's measures had been insufficient. Chosun Ilbo reported that protesters have announced new rallies from 24 October and that the Senate is due to discuss a bill on 27 October to make participants liable for damage caused by others. [ 2 , 3 , 4 ]

Why it matters

Korean business outlets focused on the cost to retailers and insurers and on government support for affected firms. Further rallies are announced for 24 October and the Senate is due to discuss a bill on 27 October, so the outlets say tension is not over.

Key facts

  • Commerce Minister Serge Papin said an initial count showed at least 3,000 businesses nationwide were affected by the riots. [ 3 , 6 ]
  • Prime Minister Sébastien Lecornu said on 19 October that night curfews were ordered in parts of Paris, Nice and Lille. [ 2 ]
  • Morningstar estimated insurance losses at 1.0 to 1.2 billion euros, above the 730 million euros it cited for the 2023 French riots. [ 3 , 4 , 6 ]
  • Chosun Ilbo reported that more than 2,500 people had been arrested and that 550,000 people took part in protests on 17 October. [ 4 ]
  • Louis Vuitton and Hermès stores in Marseille were looted, and a Louis Vuitton store on Place Vendôme in Paris withstood an attack. [ 3 , 6 , 8 ]
  • French ministers met Vinted, Amazon, eBay, Meta and TikTok on 19 October to discuss removing suspicious listings of stolen goods and identifying sellers. [ 3 , 6 ]

Confirmed by several sources

  • At least 3,000 shops or businesses across France were affected by the riots and looting; the figure comes from the government, and the commerce minister gave it. [ 2 , 3 , 4 , 6 , 8 ]
  • Insurance losses were estimated at up to 1.2 billion euros. [ 3 , 4 , 6 , 7 ]
  • The authorities ordered night curfews in parts of several cities, including Paris, Nice and Lille. [ 2 , 4 ]
  • A Louis Vuitton store on Place Vendôme was attacked and its special glass was not broken through. [ 3 , 6 , 8 ]
  • The government is providing emergency financial and employment support to affected businesses. [ 3 , 6 ]
  • Authorities met online platforms to discuss blocking resale of looted goods. [ 3 , 6 ]

Still unclear

  • Whether French government bonds fell sharply. Only the headline of one article refers to a plunge in government bonds; the article text was not available and no other document mentions it.
  • How many people attacked the Louis Vuitton store on Place Vendôme. The Financial Times account, as relayed by Newsis and ZDNet Korea, describes six masked people with dozens cheering nearby, while a later Newsis report on a video describes about 20 people.
  • Whether the Louis Vuitton store reopened the day after the attack. This rests on a video posted on social media by an individual, as reported by Newsis.
  • Why the protests turned violent. Kukmin Ilbo reports several competing explanations: police use of force, the lack of institutions to mediate, and blame placed on the far left, which Jean-Luc Mélenchon denies.
  • Whether the state will share riot losses as it does for natural disasters. A Chosun Ilbo summary says the decree providing for this has not yet come into force.

What local media are saying

Business mediaBusiness outlets reported the damage to luxury and sports retailers, Carrefour's lowered annual target, the insurance estimates and the government's support measures. They also covered political blame, claims of police misconduct and the curfews, and a Newsis report on the Louis Vuitton store that withstood an attack. [ 1 , 2 , 3 , 4 , 5 , 7 , 8 ]
Technology mediaZDNet Korea, citing the Financial Times, described attacks on luxury and other stores, the measures stores took to protect themselves, and the talks with online platforms on blocking resale of stolen goods. [ 6 ]

Timeline, local time

  1. On 20 October Korea Economic Daily published a video-news headline saying 3,000 shops were looted and government bonds plunged. [ 1 ]
  2. On 20 October Kukmin Ilbo reported that Lecornu had announced night curfews for parts of Paris, Nice and Lille on 19 October, and that the government estimated at least 3,000 shops had been looted. [ 2 ]
  3. On 20 October Newsis, citing the Financial Times, reported attacks on luxury stores and a Morningstar insurance-loss estimate of 1.0 to 1.2 billion euros. [ 3 ]
  4. On 21 October Chosun Ilbo reported that the curfew had been extended for a second day, that more than 2,500 people had been arrested and that new rallies were planned for 24 October. [ 4 ]
  5. On 22 October Newsis reported on a video of the attack on the Louis Vuitton store on Place Vendôme and its reopening the next day. [ 8 ]