Hermegrave;s, LVMH#039;s Luxury Brands Fight
The controversy between Hermegrave;s and LVMH hit front and center at a recent shareholders’ meeting in Paris. Hermegrave;s called on LVMH to sell half of its 20 percent stake in Hermegrave;s stock. Luxury brand LVMH—whose products include Mouml;et & Chandon champagne, Louis Vuitton leather goods and Christian Dior fragrances—has since 2008 been quietly buying up Hermegrave;s stock and alarming the family members who own 70 percent of Hermegrave;s. They believe LVMH is posing to take over the company. At the stockholder meeting on May 30, LVMH executives said they wanted to forge a dialogue with Hermegrave;s and were not interested in destabilizing the company.
