PARIS — French jeweler Arthus-Bertrand has sold a 45 percent stake in its capital to the Guerrand-Hermès family, part of the family group that owns Hermès International, for an undisclosed sum, a spokeswoman for the ﬁrm said Tuesday.
This story first appeared in the October 31, 2012 issue of WWD. Subscribe Today.
The group has named Gil Piette chief executive ofﬁcer, making him the ﬁrst non-family member to occupy the post. He succeeds Nicolas Arthus-Bertrand, 68.
Piette has been charged with accelerating the development of the French company, founded in 1803, which produces everything from christening medals to the Legion of Honor medal, the highest decoration in France. Arthus-Bertrand has annual sales in the region of 34 million euros, or $44 million at current exchange.
The Guerrand, Dumas and Puech families collectively own more than 70 percent of the shares in Hermès International.