Hermes Suffer Soar After LVMH Buys Stake
After the luxury retailer LVMH that it had raised its stake in the company, the French leather goods group Hermes soared more than 15 percent Monday on an announcement. An operation that left analysts questioning the conditions under which it was carried out.
After Hermès CEO Jean-Louis Dumas passed away on May 1, Hermes makes the speculation that the members of the founding family might be willing to sell, though the family has issued a statement confirming their desire to retain control.
Hermes said they remained committed to maintaining control of the company. LVMH, which climbed 2.38 percent on the Paris stock exchange on Monday it learned of the move on Saturday, just an hour before a public announcement by LVMH, the world’s leading luxury group, which markets such brands as Louis Vuitton, Givenchy, Dom Perignon and Dior. Omega replica watch is good for you.
LVMH, owner of TAG Heuer, Hublot and Zenith, has acquired 17.1% of French fashion house Hermès for approximately $2 billion.
Legal regulations require that a declaration be made whenever a company or an individual owns 5.0 percent of an enterprise.LVMH for its part issued a statement insisting that it had “scrupulously conformed to market regulations.” You can find more replica watches at our site.
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