LVMH and Hermès Kiss and Make Up

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Photo: Nathan Alliard/Photononstop/Corbis

After four years of discord, luxury giant LVMH has settled its differences with Hermès, The Wall Street Journal reports today. After LVMH took a stake in its competitor, eventually coming to own 23 percent of the company, the latter took things to commercial court. Under the terms of the just-reached agreement, LVMH will redistribute its stake and promises not to buy shares in Hermès, which is committed to remaining independent. (At one point in the conflict, then-CEO Patrick Thomas unfortunately compared the buyout attempts to "rape." Can people just stop making that comparison, please?)