LVHM buys Hermes?

LVHM and Hermes don’t seem to be rivals anymore! Reports say that LVHM has bought a 14.9% stake in Hermes, which is apparently equivalent to a 2 billion dollar stake. Today LVHM will announce “be a long-term shareholder of Hermès and to contribute to the preservation of the family and French attributes which are at the heart of the global success of this iconic brand.” Hm….very interesting.

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