Have you ever wondered who owns the luxury fashion brand Hermes? Well, let’s dive into it!
The History of Hermes
Hermes was founded in 1837 by Thierry Hermes in Paris, France. Initially, the brand started as a harness workshop that catered to European noblemen.
Over time, Hermes expanded its offerings to luxury goods like leather bags, silk scarves, and clothing. Today, it is known as one of the world’s most prestigious and valuable luxury brands.
The Ownership of Hermes
Hermes is a publicly traded company on the French stock exchange known as Euronext Paris. However, the majority of Hermes shares are owned by family members through their holding company called Emile Hermes SARL. The family has been involved in the company for six generations and currently holds around 70% of shares.
The Descendants of Thierry Hermes
The descendants of Thierry Hermes still play an active role in running the company today. The current executive chairman is Axel Dumas, who represents the sixth generation of the founding family. His cousin, Pierre-Alexis Dumas, serves as artistic director.
LVMH’s Stake in Hermes
In 2010, LVMH Moet Hennessy Louis Vuitton SE (LVMH), another luxury goods conglomerate attempted to acquire a controlling stake in Hermes without their knowledge or consent. The move was met with strong opposition from both Hermès family members and management, leading to a legal battle between LVMH and Hermes.
Eventually, LVMH was ordered to pay a fine for not disclosing its stake-building intentions in a proper manner. As of 2021, LVMH still holds a minority stake (around 23%) in Hermes.
Conclusion
In conclusion, while there have been attempts by other luxury brands to acquire Hermes, the majority of shares are still held by the descendants of Thierry Hermes. With such a long and rich history, it’s no wonder that Hermes continues to be a highly coveted luxury brand.
10 Related Question Answers Found
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