Hermès and LVMH end its 2 year conflict
The two french fashion companies make peace
The deal was brokered by the Commercial Court of Paris, and will see LVMH "distribute all its Hermès shares to its shareholders, on the understanding that LVMH's largest shareholder, Christian Dior will in turn distribute the Hermès shares it receives to its own shareholders."
In addition to the share agreement, Bernard Arnault's three companies – LVMH, Dior and Groupe Arnault – have agreed not to acquire any more shares in Hermès for the next five years. The deal also stops "all related actions" between the two fashion company's after a series of claims made by Hermès against the luxury giant.
The accusations started back in 2012, when the French conglomerate began to buy shares in Hermès – denying that it was aiming for full ownership but slowly increasing its stake over time, with the Hermès board having a bad reaction to the moves.