Hermes is a fashion luxury brand that has been around since 1837. It is known for its high-quality leather goods, silk scarves, and perfumes.
But who owns Hermes now? Let’s delve into the history of the brand and find out.
The History of Hermes
Hermes was founded by Thierry Hermes in Paris in 1837 as a harness workshop catering to European noblemen. The brand quickly became renowned for its exquisite craftsmanship and attention to detail.
In the 1920s, Hermes expanded into other luxury products like leather handbags and silk scarves. The brand also introduced its now-iconic logo – a carriage and horse – which symbolizes the brand’s heritage as a maker of equestrian equipment.
The Ownership of Hermes
The ownership of Hermes has been a point of contention over the years. In 1951, Robert Dumas – Thierry Hermes’ son-in-law – took over the company and remained at its helm until his death in 1978.
After Dumas’ death, his son Jean-Louis Dumas became CEO of Hermes. Under his leadership, the brand continued to expand globally and diversify its product offerings.
However, in 2010, LVMH (Louis Vuitton Moet Hennessy) purchased a significant stake in Hermes without the knowledge or consent of the Hermes family. This move sparked outrage among members of the family who still owned shares in the company.
The Battle for Control
The acquisition by LVMH led to a lengthy legal battle between LVMH and members of the Hermes family who wanted to maintain control over their beloved brand. In 2014, LVMH agreed to sell most of its stake back to Hermes, ending the dispute.
Today, members of the Dumas family still own a majority stake in Hermes. Axel Dumas, a sixth-generation member of the family, currently serves as CEO of the company.
The Legacy of Hermes
Despite the ownership disputes over the years, Hermes has remained one of the most prestigious luxury brands in the world. Its commitment to artisanal craftsmanship and timeless design has made it a favorite among high-end consumers.
From its humble beginnings as a harness workshop to its current status as a global fashion powerhouse, Hermes is a testament to the enduring appeal of luxury goods done right.
- In conclusion:
Hermes is currently owned by members of the Dumas family, who have maintained control over the brand despite attempts by outside parties to take it over. The brand’s commitment to quality and craftsmanship has made it a mainstay in the luxury fashion world for over 180 years and counting.