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A headline that reads, “LVMH Becomes a Shareholder of HERMES INTERNATIONAL” will make any discerning stylista do a double take.
And that I did when I read LVMH Moët Hennessy Louis Vuitton’s announcement on Saturday.
Apparently, the world’s leading luxury products group, now holds 15 016 000 shares of Hermès International, representing 14.2% of the share capital of the company.
However, LVMH was careful to make a few things clear in its weekend announcement.
“The objective of LVMH is to be a long-term shareholder of Hermès and to contribute to the preservation of the family and French attributes which are at the heart of the global success of this iconic brand,” said the company, while vowing support to the founding family of Hermès.
“LVMH has no intention of launching a tender offer, taking control of Hermès nor seeking Board representation,” the announcement continued.