French luxury fashion maison Hermès has bought a minority stake in Parisian footwear and accessories house, Pierre Hardy. The move follows a long-standing successful collaboration between the two iconic brands that have seen the creation of special jewellery and footwear collections for Hermès. With this acquisition, Hermès is poised to give Pierre Hardy's global expansion a major boost.

"I'm very pleased, and very proud, of our alliance with Hermès, a house which champions the exceptional," said Pierre Hardy. "It's the natural extension of 25 years of creative collaboration." The sentiment was shared by Axel Dumas, Hermès International Chief Executive when he said, "I'm delighted with our partnership with Pierre Hardy, which shows how proud we are to support creative talent and incredible expertise as part of this unique tribe that strives for excellence."

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