LVMH Now Owns 20 Percent of Hermès

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Photo: Photo illustration:Eric Piermont/AFP/Getty Images, iStockphoto

Despite all the name-calling, potentially illegal stock maneuvers, and other measures that the Hermès family has taken to prevent LVMH from purchasing more shares of their company, LVMH announced yesterday that they now own 20 percent of Hermès. This is less than a 3 percent increase in their ownership, up from the 17.3 percent they accumulated back in October, but the acquisition flies in the face of all the hoop-jumping the Hermès family has done over the past two months to protect their holdings. While LVMH initially said that they had no interest in a "hostile takeover" within the next six months, they didn't rule out buying more stock, which will probably continue to happen.

LVMH Crosses Threshold of 20 Percent of Hermès Shares [WWD]
Related: Hermès’s CEO Calls It ‘the Pretty Flower’ That LVMH Could ‘Kill’