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Hermes sounds warning to rival LVMH

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Hermes sounds warning to rival LVMH

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French luxury brand Hermes has told larger rival LVMH to back off it’s share capital, after LVMH pounced to capture 17% of Hermes.

The French regulator is currently reviewing the surprise move by LVMH to check that all the rules were respected.

The family behind Hermes, which owns about 73% of the group has stated that their culture of craftsmanship is incompatible with one of a big group such as LVMH.