PARIS — LVMH Moët Hennessy Louis Vuitton now holds 17.1 percent of the share capital of Hermès International.
The French luxury group said Tuesday it acquired the 3 million shares it had previously described as derivative instruments when it revealed its 14.2 percent stake in Hermès last Saturday. As of Monday, LVMH holds just over 18 million shares.
The Hermès family, vowing to maintain control in the long term, said its members hold almost 75 percent of shares, as reported.
LVMH is expected to disclose further information about its surprise investment in the maker of Birkin and Kelly bags to the French market authorities as early as today.
Shares in Hermès fell 11.8 percent Tuesday to close at 179 euros, or $250.85 at current exchange rates, on the Paris Bourse after spiking 15.1 percent on Monday. Shares in LVMH were down 3.2 percent to 112.35 euros, or $157.45.
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.
In honor of Rihanna’s 30th birthday, we took a look back at an interview with the Barbados-native when she was just 18 years old. Here, she talked about her second album, “A Girl Like Me” in 2006. “I want to be me. I want people to fall in love with who Rihanna is, and that’s why I want the album to be about me so people can really find out who this girl Rihanna is, because they only know the ‘Pon de Replay’ girl.” Fast forward 12 years, and she’s released six more albums and has become a powerhouse in both the fashion and music industries. Happy birthday, @badgalriri 🎈(📷: Pavel Antonov) #wwdarchive