It was years of public and behind the scenes feuding between the two, but has the fight ended in truce?
“The Commercial Court of Paris delivered a settlement where LVMH will distribute all its Hermès shares to its shareholders, on the understanding that LVMH’s largest shareholder, Christian Dior will in turn distribute the Hermès shares it receives to its own shareholders.”
Adding to the settlement, Bernard Arnault’s companies: LVMH, Dior and Groupe Arnault have agreed not to acquire any shares in Hermès for the next five years, WWD reports. The agreement also stops “all related actions” between the two, after a series of claims made by Hermès against LVMH.
Back in 2010, LVMH bought a 14.2 percent stake in Hermès International and that sparked the feud. When addressed whether they are aiming to own Hermès, the company released the following statement “ LVMH fully supports the strategy implemented by the founding family and the management team, who have made the brand one of the jewels of the luxury industry. LVMH has no intention of launching a tender offer, taking control of Hermès or seeking board representation.”
