French riots cause €1.2 billion in insured business losses

Riots and looting in France have caused estimated insured business losses of €1-1.2 billion, affecting at least 3,000 enterprises, according to the Financial Times. Luxury stores including Louis Vuitton and Hermès were targeted. In Paris, rioters rammed a Louis Vuitton boutique with road barriers, while Ralph Lauren, Kenzo, Burberry, and Graff stores were damaged or looted. Attacks also hit JD Sports, Sephora, and an Apple store in Lille, with the government meeting online platforms to block sales of stolen goods. The estimated losses exceed the €730 million in damages from France's 2023 riots. President Emmanuel Macron vowed on October 18 that there would be "no impunity" for looters, while platforms like Vinted have increased screening for suspicious listings.