LVMH (Louis Vuitton Moet Hennessy) is a conglomerate of high-end luxury brands which includes Louis Vuitton, Celine, Givenchy, and Christian Dior. The fashion industry was astounded after hearing that LVMH bought 17% of the family owned business Hermès in October. Bernard Arnault, CEO of LVMH, said that the acquisition was "friendly" according to British Vogue. Arnault has also mentioned that he does not plan to take over the Hermès brand in the next six months. The Autorite des Marches Financiers is currently investigating the purchase of the Hermès shares to ensure that Arnault followed the governing laws. What does this mean for Hermès and other family owned luxury brands? LVMH is coming for you.
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| Bernard Arnault:wsj.com |
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Hermès' spring/summer 2011 collection: vogue.co.uk |
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