We have reported over the year about the tensions between the two luxury powerhouses LVMH and Hermès.
The ultimate Christmas present for LVMH would have to be Hermès gift-wrapped, but the family-owned Hermès have been digging their heels in when it comes to LVMH’s approach.
Hermès CEO Patrick Thomas told French newspaper Le Temps that the ‘affair is over’ after shareholders united against LVMH’s purchase of a stake.
We reported back in September that LVMH currently have a stake of 21.4 per cent, which they are keen to increase.
“When the holding company is in place, it will become completely obvious that the claims of unity that have taken place for months and have been questioned will be impossible to challenge anymore,” Deputy Managing Director Patrick Albaladejo told Bloomberg in a phone interview at the time.
“This is a decisive step.”
Mr Thomas also told Le Temps that Hermès is expecting a growth of 10 per cent in sales next year. This is however a ‘cautious’ estimate, in case the world dips into further financial troubles.
LVMH are yet to state their true indications when it comes to Hermès and no doubt we will hear more about it in 2012.
Image credit: worlds-luxury-guide.com
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