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April 27, 2017

Arnault family restructures holdings, sells Hermes stake; Lotte Group to reduce cross-shareholdings by 73% in simplification drive; JAB Holdings luxury arm mulls sale of Jimmy Choo and Bally

Arnault family restructures holdings, sells Hermes stake
France’s Arnault family is to pay €12.1 billion ($13.2 billion) for the minority stake in iconic French fashion house, Christian Dior, it does not yet control and sell its stake in family-controlled rival Hermes.

Arnault Family Group, who controls the world’s largest luxury company LVMH, said the move was part of a two-step simplification of its holding structures in response to market demands.

March 28, 2017

Hermès and LVMH announcing record profits for 2016 suggests the French family businesses are resuscitating the moribund $1.1 trillion global luxury market despite ongoing political and economic uncertainty.

Hermès and LVMH announcing record profits for 2016 suggests the French family businesses are resuscitating the moribund $1.1 trillion global luxury market despite ongoing political and economic uncertainty.

July 17, 2014

A fresh-faced CEO straight out of business school isn't always the person to inspire public and investor confidence, but circumstances sometimes force a young candidate into the top spot at a family firm.

Picking a chief executive for any family business is a tough task. It is especially problematic if the company is bent on keeping a family member in the top job. This was the conundrum Gianni Agnelli faced when trying to prepare an heir to take the wheel of his family’s iconic Italian car brand Fiat. Drug addiction in his only son and then stomach cancer in his nephew saw his pool of potential successors whittled down to his 21-year-old grandson John Elkann.

October 15, 2013

A 130-year-old US chemicals and industries company has taken the top honour at an international awards ceremony held in Rio de Janeiro, Brazil.

A 130-year-old US chemicals and industries company has taken the top honour at an international awards ceremony held in Rio de Janeiro, Brazil.

J M Huber Corporation (Huber) was presented with the IMD-Lombard Odier Global Family Business Award, at the culmination of the FBN-I annual summit, held this week.

According to the award judges, the firm was recognised for family inclusiveness, business governance, communications excellence, and successful management of the transition from family to non-family leadership.

September 4, 2013

French luxury group LVMH has announced it is abandoning its appeal against the record-breaking fine it incurred for its secret stake in rival luxury house Hermes.

French luxury group LVMH has announced it is abandoning its appeal against the record-breaking fine it incurred for its secret stake in rival luxury house Hermes.

LVMH remained defiant, however, saying in a statement that it still disputed the ruling but had to consider the time and cost of further proceedings and focus on the management of its slice of Hermes.

Bernard Arnault's giant was hit with an €8 million penalty from the French financial regulator Autorite des Marches Financiers in early July for failing to comply with disclosure rules.

August 30, 2013

Hermes surprises with strong profits for the first half, while Ferragamo and Folli Follie also see profits up. Exor sees profits soar due to SGS sale.

Hermes surprises with strong profits for the first half, while Ferragamo and Folli Follie also see profits up. Exor sees profits soar due to SGS sale.

Hermes
Strong demand for leather and silk accessories has seen French luxury group Hermes beat forecasts for its first half operating profit, up 14% to €584 million.

The fashion group said growth was balanced in all regions, with Asia ex-Japan and the Americas both seeing growth of 17% compared to the previous year.

July 11, 2013

Sixth gen to take over at Hermes, Maxime Carmignac takes over the family business’s UK office, and M&S family member says the retailer needs to modernise.

Sixth gen to take over at Hermes, Maxime Carmignac takes over the family business’s UK office, and M&S family member says the retailer needs to modernise.

July 2, 2013

LVMH has been fined €8 million by the French financial regulator for the clandestine stake it built up in rival luxury family business Hermes – the largest fine ever issued by the Autorite des Marches Financiers.

LVMH has been fined €8 million by the French financial regulator for the clandestine stake it built up in rival luxury family business Hermes – the largest fine ever issued by the Autorite des Marches Financiers.

The AMF enforcement committee said it made the ruling after considering the "seriousness of the successive breaches of public disclosure requirements, which consisted [of] concealing each stage of LVMH's stake-building in Hermes".

May 22, 2013

Bernard Arnault's luxury goods powerhouse LVMH could face a big fine if it is found to be in breach of financial regulations over its stake in rival family business Hermes. 

Bernard Arnault's luxury goods powerhouse LVMH could face a big fine if it is found to be in breach of financial regulations over its stake in rival family business Hermes.

A spokesman for the French financial regulator Autorite des Marches Financiers said it was unable to comment on the detail of the case so close to the committee hearing on 31 May, but said LVMH would face a fine if in breach of AMF regulations.

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