Hermès share row continues - leatherbiz: Leading news site for the glo Leatherbiz

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Hermès share row continues

11/11/2010
On announcing his company’s positive results for the third quarter, the chief executive of luxury leathergoods brand Hermès, Patrick Thomas, said the purchase of a 14.2% stake in the company by rival group LVMH changed nothing.

LVMH made its move towards the end of October but said it did not intend to seek a seat on the board or try to take Hermès over. The Hermès family continues to own more than 70% of the company.

At the start of November, some senior family members issued a strongly worded criticism of LVMH and said it should sell its share and walk away from Hermès. France’s financial regulator is looking into the matter.


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