FashionBUSINESS

10 Dec

Last month it emerged that LVMH’s (a French holding company) chairmain Bernard Arnault had acquired 17% of stock at Hermes.

Rumors began to fly straight away that the company, LVMH, would attempt to acquire more, despite the fact that Hermes is predominantly still owned by the Hermes family – however it has emerged that the luxury handbag makers will not be allowing LVMH to gain any more equity in the company.

This transpired when the founding family announced they are setting up a private holding company that will own more than half of the Hermes shares; as a result, Hermes family members will now be able to sell their stocks (which amounts to approximately 73% of Hermes) without worrying that LVMH will purchase them.

With over 60 members of the family involved, it’s surprising they all came to an agreement – but everyone is said to be on board.

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