According to today's NY Post, French luxury mogul Bernard Arnault is trying to takeover Hermes. Even though Arnault, the chairman of LVMH whose labels include Louis Vuitton, Fendi, Givenchy and Donna Karan, shocked Hermes management last month with the sudden disclosure of a 17.1% stake in Hermes…the controlling family is "serene, unified and vigilant" as it looks to thwart any potential takeover attempt.
Hermes is looking very profitable so why wouldn't LVMH want to add the company to it's luxury profile? Hermes just raised its full-year revenue forecast after reporting a 30% surge in the third quarter which is slightly ahead of the gains reported by Gucci and LVMH.
Hermes honchos last week publicly told Arnault to back off. Invoking the "artisans" that produce Hermes' Birkin bags, silk neckties and printed scarves, the label's execs said they had no interest in being part of a big luxury player like LVMH.
According to the he Wall Street Journal, Hermes has hired investment bank BNP Paribas to weigh defensive strategies, including the idea of putting its 73% stake into a private holding company.
We can't wait to see how this plays out.
Source: NY PostSee the Top Ten Summer 2016 Trends for Women Over 40