The Hermès purchase makes Bernard Arnault of LVMH Moët Hennessy Louis Vuitton the largest individual shareholder. Should be interesting what occurs next:
French luxury-goods giant LVMH Moët Hennessy Louis Vuitton has increased its stake in rival Hermès International to more than 20%, increasing the tension in an unwelcome assault on the French maker of pricey handbags, scarves and other luxury goods. In a filing Tuesday with the French stock market regulator, LVMH said it now owns 20.2% of family-controlled Hermès. – read more at WSJ
Alex has written for Vanity Fair, Barrons, Bloomberg and Condé Nast Traveler.