Home Videos Photos

Hermes Won't Let LVMH Own Them

| Filed under: Business BlitzLVMH

louis-vuitton-eyes-hermes-takeover__opt.jpg

Last month we told you how LVMH chariman Bernard Arnault acquired 17% of stock in Hermes.

That’s when speculation began that LVMH would soon try to acquire more even though the majority of the company is still owned by the Hermes family.

But the high-end purse makers aren’t going to let LVMH gain any more equity.

The founding family is setting up a private holding company that will own more than half of the Hermes shares. This will allow Hermes family members to sell their stocks, which amounts to 73% of Hermes, without worrying that LVMH will purchase them.

The family, with over 60 members involved, is said to all be on board.

[Image via AP Images.]

Tags: , , ,

The Top Earning Actresses In TV!
2014's Highest Paid TV Actors!
Richest Kids Under 30!
Highest Paid World Cup Coaches
Celebrities You Didn't Know Were Voicing Commercials!
Top 25 Touring Bands Of The Past 25 Years!
Email this  »

Comments are closed.