LVMH and Hermès Kiss and Make up

It was years of public and behind the scenes feuding between the two, but has the fight ended in truce? The Commercial Court of Paris delivered a settlement where LVMH will distribute all its Hermès shares to its shareholders, on the understanding that LVMH’s largest shareholder, Christian Dior will in turn distribute the Hermès shares it receives to its own shareholders.”

Adding to the settlement, Bernard Arnault’s companies: LVMH, Dior and Groupe Arnault have agreed not to acquire any shares in Hermès for the next five years, WWD reports. The agreement also stops “all related actions” between the two, after a serious of claims made by Hermès against LVMH.

Back in 2010, LVMH bought a 14.2 percent stake in Hermès International and that sparked the feud. When addressed whether they are aiming to own Hermès, the company released the following statement

“ LVMH fully supports the strategy implemented by the founding family and the management team, who have made the brand one of the jewels of the luxury industry. LVMH has no intention of launching a tender offer, taking control of Hermès or seeking board representation.”

 

Featured image via Nathan Alliard/Photononstop/Corbis

 

Have a tip we should know? tips@rhd.news

Uncategorized

Most Read

  1. ARTS
    With a Vengeance and no Apologies, Art Basel Miami Beach Has Returned
    10 months ago
  2. Food
    Is Faux Turkey Finally Vegan-Approved for Thanksgiving?
    10 months ago
  3. News
    Pandora Papers Financial Leak Shows Us the Secrets of the World’s Rich and Powerful
    12 months ago
  4. Health
    US Supreme Court Rejects J & J TALC Cancer Case Appeal
    1 year ago
  5. Lifestyle
    9 Habits that Drain your Daily Focus and How to Avoid Them
    1 year ago
  6. BUSINESS
    Women’s Demand for Shapewear – the big Trends
    1 year ago
  7. BUSINESS
    Valentino Launches its Cosmetics Line
    1 year ago
  8. Business
    McDonald’s Sales Increase Amid COVID Restrictions
    1 year ago
  9. Health
    US Promises to Share 60 million Doses of AstraZeneca Vaccines
    1 year ago
  10. coronavirus
    UK Offers Aid Amid Surging COVID-19 Cases in India
    1 year ago
  11. Entertainment
    Nomadland Director Chloé Zhao, Wins the Best Director in 2021 Oscar
    1 year ago
  12. Asia
    Pakistan floods: ‘The water came and now everything is gone’
    4 weeks ago
  13. News
    Iraq: At least 23 dead amid fighting after Moqtada al-Sadr quits
    4 weeks ago
  14. News
    Pakistan floods are ‘a monsoon on steroids,’warns UN chief
    4 weeks ago
  15. BREAKING NEWS
    Pakistan floods: Desperation and displacement in Sindh province
    4 weeks ago
  16. Enviroment
    Climate change: Russia Burns off Gas as Europe’s Energy Bills Rocket
    1 month ago
  17. News
    Ukraine war: Russia railway station strike kills 25, injures dozens
    1 month ago
  18. News
    Sewage in sea: French appeal to EU over UK discharges of waste
    1 month ago

Follow @rushhourdaily: