Hermes want their shares back from LVMH

Late last month, LVMH stealthily purchased 17.1 percent of Hermes shares, and despite denying any full-on takeover bids, LVMH announced intentions to buy more shares depending on market conditions. Hermes executives are not taking the news lying down.


In a newspaper interview with Le Figaro today, Patrick Thomas, CEO of Hermes International, and Bertrand Puech, who is a fifth-generation heir of Hermes founder, Emile Hermes, and represents the family shareholders, called for LVMH chairman and CEO Bernard Arnault to get rid of his newly-acquired stake. They added that they did not see the shares purchase as "friendly," despite Arnault's assurances that he doesn't plan a hostile takeover. "The family is saying clearly and unanimously: ‘If you want to be friendly, Monsieur Arnault, then you must withdraw’,” Puech added.

Arnault phoned to notify Puech of the stake just hours before issuing a statement, causing him “surprise and displeasure,” he said. Thomas and Puech both met with Arnault last week after the announcement, where they told him face-to-face that they don't consider his overture friendly. “There is nothing friendly about this move. It was neither desired nor solicited,” said Thomas, adding: “It is very probable that he will increase his stake, I don’t know his intentions. This culture [of craftsmanship and strong traditions] is hardly compatible with one of a big group. It is not a financial battle, it's a cultural battle."


Hermes family members still control 73 percent of the firm not currently owned by Arnault and are awaiting the French market regulator's decision on whether LVMH's stake purchase happened legally.


So you all wondering why I post this article well easy I have stocks in LVMH. LVMH stands for Louie Vuitton Moet Hennesy. Yes Im a Designer groupies who isnt??? till oneday I ran into a old dude in Norstroms.  I dont know why this dude target me but I was there to buy a handbag. This guy came up to me and was like before you purchase that bag do you know the history and the background of that handbag. I told him NO. Then he tells me the history he always tell I need to look in purchasing stocks because I have a say so in that company. So a lightbulb went off and yes I did my research. Got in contact with a stock broker and Viola 6 months later I purchase stocks in LVMH, Gucci and some other designers.  Now Im going to look into Hermes history and see if I can purchase some stocks in this company.