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“Handbag War” Ends: LVMH, Hermès Make Up

In What's New, Industry News by Jeff Prine

Paris—One of the most contentious and bitter battles ever in luxurygoods is over. Today—unexpectedly—LVMH and Hermès announced a conciliatory agreement to end their fight over the shares LVMH took in Hermès. Under the deal, LVMH, the world’s No. 1 luxury group, controlled by billionaire Bernard Arnault—agreed to relinquish most of …

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LVMH Increases Stake in Hermès (Again)

In What's New, Industry News by Jeff Prine

Paris—LVMH confirmed today that it has increased its stake in Hermès International to 23.1% from 22.6% in what it described as “an opportunistic move.” “It doesn’t say anything about our attitude in the future so you cannot extrapolate that for the rest of the year,” Jean-Jacques Guiony, chief financial officer …