The situation at Hermes is keeping us fascinated here at the MO Down. Following up on our recent coverage, the Dumas family met on Friday (December 3) to discuss their battle strategy. For those of you just tuning in, we are of course referring to the recent controversy that arose when LVMH revealed its ownership of a 17.1 per cent stake in Hermes. It was quite an unwelcome surprise to the family-owned Hermes, which is now faced with the possibility of a gradual takeover. The Dumas family aren’t happy, and to be honest, neither are many people. Hermes shares fell 9.3 per cent on Friday, and something tells us this was no coincidence.Currently, the Puech, Guerrand and Dumas families own a combined stake of 73 per cent– no one is taking over anything without their permission. However, the families are hunting for a strategy to allow them to sell shares as needed, without allowing LVMH boss Monsieur Arnault to increase his holding. Hermes is not keen to join the family owned brands that have fallen to the conglomerate. It stands firm as a house of artisans, before businesspeople. Several schemes are in the works at the moment, and we will bring more as soon as we hear…
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