Hermes blocks LVMH with holding company
The family behind Hermès announced on Wednesday that it had completed the formation of a holding company to block any takeover attempts.
By ELLE UK and None
The new holding company controls 50.2% of all Hermès shares as a bulwark against further stakebuilding activity by fashion conglomerates like LVMH, which last year disclosed that it had secretly accumulated a 20.2% stake in the historic fashion brand.
The creation of this holding structure confirms the unity of the family in their commitment to defend the independence of Hermès to preserve its values and culture, the family said in a press release.
The holding company appointed sixth-generation Hermès heir Julie Guerrand as its president. Just call her the Birkinator...
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