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 spokeswoman for Hermès said it did not have any comment on the AMF filing.
On Dec. 14, Hermès said Julie Guerrand had been appointed president of the holding company, dubbed H51. Guerrand belongs to the sixth generation of heirs to Thierry Hermès, who founded the company in 1837.
In an interview with French daily Le Figaro last week, Bertrand Puech, the executive chairman of Emile Hermès Sarl, which represents the family shareholders, declared the war with LVMH over, although he reiterated his call for the luxury giant to withdraw.
LVMH chairman and chief executive officer Bernard Arnault surprised markets when he revealed in October 2010 that he had accumulated a 17.1 percent stake in Hermès via cash-settled equity swaps that allowed him to circumvent the usual market rules requiring firms to declare share purchases.
Although Arnault said he had no plans for a full takeover, the move rattled Hermès, which has vowed to protect itself from what it considers an unwelcome suitor.
In Tuesday’s AMF filing, LVMH said it would consider purchasing more shares in Hermès depending on circumstances and market conditions, but reiterated that it did not seek to take over the firm. It also said it holds cash-settled equity swaps covering 205,997 shares in Hermès, which expire from April 4, 2014.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews