PARIS — The French market regulator (AMF) is examining LVMH Moët Hennessy Louis Vuitton’s stealth purchase of a 17.1 percent share in Hermès International to decide whether market rules were respected, the head of the authority said in a newspaper interview on Tuesday. AMF president Jean-Pierre Jouyet told financial daily Les Echos, which is owned by LVMH, that the market authority had merely been notified by LVMH that it had acquired the shares via equity swaps, but that it had yet to approve the operation.
“If, given the elements in his possession, the secretary general of the AMF considers that there are grounds to launch an inquiry, then this will be ordered,” he was quoted as saying by the newspaper.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)