French Protests Storm LVMH Headquarters — Retail Bum

French pension protesters briefly stormed the headquarters of LVMH in Paris on Thursday ahead of a union-led march against President Emmanuel Macron’s pension reform.

The incident marked the latest effort by protestors to target businesses and symbols of capitalism in the French capital, as previous protests have failed to sway the government’s decision.

Protestors believe that taxing French luxury conglomerates such as LVMH can easily pay for the social security system’s deficit and erase the need to change the minimum retirement age to 64 from 62.

“One of the solutions to finance the pension system is a better redistribution of wealth, and the best way to do that is to tax the billionaires,” said Fabien Villedieu of the Sud-Rail Union, referring to LVMH CEO Bernard Arnault, who was recently ranked as the world’s richest person with a total net worth of $224.4 billion.

While protests in Paris have garnered global attention with piles of trash lining up the streets, it is far from the only city to witness mass protests. Other French towns and cities like Marseille and Lyon have seen thousands of people protest.

While the government is still contemplating how to handle the situation best, protestors are showing no signs of backing down.

“The mobilization is far from over,” said CGT union leader Sophie Binet. “As long as this reform isn’t withdrawn, the mobilization will continue in one form or another.”

CGT is France’s second-largest union, and it has become the backbone of the ongoing movement.

Originally published at https://retailbum.com on April 14, 2023.