Closures, losses and aid: French fashion retail following cost-of-living protests

The cost-of-living protests that swept across France over the weekend of October 17 and 18 ended in riots and looting in several cities across the country. According to the French government, around 3,000 businesses suffered damage. Fashion stores were among the hardest hit, particularly those carrying brands with high demand in the resale market.

The impact on sales was immediate. The Alliance du Commerce estimates that fashion stores recorded an average turnover decrease of 14 percent on Saturday, with much steeper declines in the city centres of Lyon, Grenoble and Nantes. At the National Clothing Federation, president Pierre Talamon advised independent retailers to close their shops until calm is restored.

For its part, the government has approved an aid package for affected businesses, which includes partial unemployment schemes, the deferral of social security contributions and interest-free loans. Meanwhile, part of the sector is holding the state accountable for failing to protect the stores.