Hermès Family Fortifies Control, Blocks LVMH's Stake Increase
The Hermès family has reinforced its control over the luxury brand Hermès International. In a series of transactions worth over 400 million euros, the family members successfully prevented rival LVMH from increasing its stake.
The transactions, which took place in November, involved three heirs of the Hermès family: Pierre-Alexis Dumas, Sandrine Brekke, and Agnès Harth. They bought and sold shares at a price of 130 euros each. The family now owns 73% of the total capital, while LVMH's stake remains at 21.4%. The remaining 7% is free float.
The family's actions were likely in response to LVMH's attempts to increase its influence over Hermès. The search for additional family members who might support the family's stance did not yield further information.
The Hermès family has solidified its control over the luxury brand, successfully maintaining its majority stake and preventing LVMH from gaining further influence. The family's actions ensure that Hermès remains a family-owned business.
