Business nooz now, and a question: Is the most powerful luxury goods conglomerate in the world trying to snaffle Hermes? LVMH - Louis Vuitton Moët Hennessy, have announced that they've bought a 14.2% stake in Hermes – and straight after, the share price of the jaunty French heritage brand rose steeply. [wwd]
Bernard Arnault, the founder, chairman, and CEO of LVMH has a rather aggressive attitude to aquiring brands to his stable of Louis Vuitton (obvs) Celine, Kenzo, Fendi, Givenchy, Marc Jacobs, Loewe and Donna Karan (and that’s just the fashion brands). He’s even been rumoured to want to buy up Gucci in the past. Hermes is still chiefly a family-run house, which has always resisted offers to sell in the past. Meanwhile, business analysts say Arnault will be playing a stealthy game and is unlikely to want to stop at such a minority share - so watch this space!
Hermes is also mid-switch as Jean Paul Gaultier bowed out of his role as creative designer with a spectacular swansong involving lots of real horses on the catwalk (!) and sportwear supremo Christophe Lemaire will be taking the reins *chuckles* this coming season.
Despite the recession, the luxury end of the market seems to be holding up very well, with shares in other super-posh brands up, including Brit flag flyer, Burberry. Healthy share prices mean big budgets, so it looks like we can look forward to more theatrical, zoological displays from the equestrian brand in the catwalk shows of the future!
- Naomi Attwood