PARIS — LVMH Moët Hennessy Louis Vuitton again increased its stake in luxury firm Hermès International, just a day after the Hermès family announced it had completed the creation of a nonlisted holding company grouping more than 50 percent of its share capital in a bid to ward off a takeover.
According to a declaration published by France’s stock market authority AMF on Tuesday, LVMH on Dec. 15 upped its stake in the maker of Birkin handbags and silk scarves to 22.3 percent from 21.4 percent previously. It now retains 16 percent of the firm’s voting rights, crossing the threshold of 15 percent that requires market notification.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"