Israeli Retailer's Nike Store Looted Amid French Unrest
Translated & summarized from Ice by baba
A Nike store in Lyon, France, operated by Israeli company Retailors (part of Fox Group), was looted during recent riots. The incident impacts the company's expansion plans amid already declining global Nike sales. While insurance covers theft, ongoing unrest poses a threat to customer traffic. Retailors plans to open more stores in France by 2026 despite these challenges.
The story in 5 lines · by baba
- A Nike store in Lyon, France, owned by Israeli company Retailors, was looted during riots.
- Retailors operates 17 Nike stores in France under franchise agreement.
- The looting occurred during a period of declining global Nike sales.
- Nike's flagship store in Paris was also looted.
- Retailors plans to open 5-10 new stores in France by 2026.
Riots in France have impacted an Israeli-linked business, with a Nike store operated by Retailors, part of the Fox Group, being looted in Lyon on Saturday. Retailors holds the franchise for 17 Nike stores in France, and the damaged branch is one of two in Lyon. This incident occurs during an already challenging period for the company, which is facing declining Nike sales globally and is attempting to expand its operations in France by opening new stores. The looting has led to the closure of the affected store, though the company's insurance covers theft.
Nike itself operates four stores in France, including its flagship store in Paris, which was also looted during the unrest. Curfews have been imposed in Paris, Lyon, Marseille, and Nice, cities where Retailors operates Nike stores, with potential extensions. While the curfews are unlikely to directly affect business hours as they occur after closing, concerns remain about the ongoing riots and their impact on consumer traffic, potentially keeping customers away and reducing activity in commercial areas.
Despite the sales challenges, Retailors' expansion plans in France remain on track, with intentions to open 5 to 10 new stores by 2026. This comes after Harel Wiesel, CEO and controlling shareholder of Fox Group, previously expressed reluctance to open new stores due to weak demand for Nike products. As of late June, Retailors operated 185 stores worldwide, including 17 Nike stores in France, the majority of which continue to operate normally following the looting incident in Lyon.