The riots that have rocked France could have “a material impact” on third-quarter sales for Europe’s big luxury groups, and the entire tourism sector.
within the first week of the riots, sparked by the police killing of a 17-year-old motorist, identified as Nahel M.
France accounted for 7 percent of first-quarter sales at luxury giant LVMH Moët Hennessy Louis Vuitton, up from 6 percent in the year-ago quarter, and 8 percent of first-quarter sales at Hermès International. As reported, Chloé canceled a planned event on June 30 to celebrate Karl Lagerfeld’s creations for the house, while Courrèges postponed its annual club night, originally scheduled for July 1.
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