Does Michael Coste Own Hermes?

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There have been rumors circulating for years about Michael Coste, a former Hermès employee, owning the luxury brand. However, these rumors are simply not true.

The History of Hermès

Hermès is a French luxury brand that was founded in 1837 by Thierry Hermès. The company originally produced equestrian goods such as saddles and harnesses. Over time, they began to expand their product line to include leather goods, clothing, accessories, and perfumes.

Today, Hermès is known for their iconic Birkin and Kelly bags as well as their silk scarves and ties. The brand has become synonymous with luxury and is highly coveted by fashion enthusiasts around the world.

Who is Michael Coste?

Michael Coste was a former employee of Hermès who worked in the company’s communications department. He left the company in 2016 after working there for over 10 years.

Coste was known for his close relationship with the Hermès family and was often seen at public events representing the brand. However, he has no ownership stake in the company.

The Rumors about Michael Coste Owning Hermès

The rumors about Michael Coste owning Hermès began circulating on social media in 2017. Some people claimed that he had acquired a large stake in the company through a series of investments.

However, these rumors were quickly debunked by Hermès themselves. In a statement released to the press, the company stated that Michael Coste has never owned any part of their business.

The Truth About Ownership

Hermès is still owned by members of the original founding family. The majority shareholder is Axel Dumas, who represents the sixth generation of the family to run the business.

While it’s true that some members of the family have sold small portions of their stakes over time, no one outside of the family has ever owned a significant portion of the company. This includes Michael Coste.

In Conclusion

Despite the rumors, Michael Coste does not own Hermès. The brand is still owned and operated by members of the founding family, who have maintained control over the business for over 180 years. While Coste was a well-known employee of the company, he never held any ownership stake in it.

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