Just a few weeks ago, it was announced that LVMH, lead by Bernard Arnault, bought shares in Hermes as part of a £1.3 billion deal. Ever since, the situation has been tense with Bertrand Puech, who represents the Hermes family, describing the position with LVMH as, "It's like a mosquito buzzing around, and it's annoying. But it's very difficult to get a mosquito out." The family are now taking action to stop the luxury conglomerate gaining any more shares.
One way which they are considering is founding a limited partnership which they are funneling their shares into. Only direct descendants of the founders would have access to this, meaning, it would be difficult for an outsider to control the company without the entire family's approval. It's interesting that the brand are going to such lengths to keep it within the family. Do you think it's important for brands to stay so true to their heritage?