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LVMH Group Now Owns 2130 Shares Of Hermes.

2010/12/24 10:43:00 67

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LVMH The Wolf In The Hermes Fashion World

In the first two months after the sudden fall and holding 17.1% of the brand, LVMH, the world's top luxury group, announced in a statement on Tuesday that it had more than 20% shares in Hermes.

A spokesman for the group said the increase was achieved in December 17th through the acquisition of shares in the market.

According to a notice issued by the securities regulatory authority,

LVMH group

Now holds 2130 shares, accounting for 20.21% of the total shares of Hermes.

In the declaration to the securities regulatory authority, the group held by BernardArnault expressed the hope that it would continue to acquire shares, but did not intend to hold shares, nor would it propose a public takeover bid. It would not require a seat in the Hermes group's board of supervisors.

It is called "

Wolf in fashion

Bernard Arnott, chairman of LVMH group

LVMH describes its investment as "strategic and long-term".

These intentions are exactly the same as the announcement made by the group in October when it announced its stake in Hermes.

The LVMH group held 17.1% shares of Hermes in one fell swoop, which led the French securities regulator to investigate the purpose of determining whether BernardArnault has complied with the relevant provisions in increasing its shareholdings through financial instruments.

Hermes

The family's response strategy is to announce the establishment of a holding company, holding at least 51% of the company's shares, so as to cope with the attack of LVMH group.

Securities regulators also need to decide on this.

LVMH has become the largest independent shareholder of the brand.

73.4% of the company's shares are owned by more than sixty descendants of the brand founder Thierry Herm s, but none of them hold more than 5% of the shares.

For Agence France-Presse enquiries, Hermes would not comment on the matter.