Skip Nav
Winter Fashion
Found: The Perfect Lingerie For Your Zodiac Sign
Street Style
Catch Up on All of NYFW's Best Street Style
Fashion Week
Banana Republic Wants Us to Break Up Our Suits — and We're Not Mad About It

Is Hermes's United Family Front Against Bernard Arnault and LVMH Starting to Crack?

Is Hermes's United Family Front Against Bernard Arnault and LVMH Starting to Crack?

>> Is a fissure in Hermes's family unity against LVMH and Bernard Arnault already emerging? Some thought it would take years, but Nicolas Puech, brother of Bertrand Puech (who is executive chairman of Emile Hermes and represents the family shareholders), told French newspaper Le Journal du Dimanche that he doesn't agree with the family's current defense strategy, which involves locking up all of their shares in a holding group to protect from takeover bids by Arnault.

“I told my family that locking up our shares in a holding would have the major drawback of depriving the family shareholders of their individual power to control management,” Nicolas Puech said. He did add, however: “But in a family, you can’t agree on everything. I am very attached to my family and above all I want it to remain united.” His brother Bertrand, who Nicolas says he remains on good terms with, has repeatedly, and publicly, asked Arnault to withdraw from the company.

Hermes CEO Patrick Thomas said at a news conference recently that one family member — who owns roughly 10 percent of the capital — had not brought his shares into the holding group for tax reasons, but added that he was still united with the family. The family member in question is likely Nicolas Puech — who also noted, “I have close relationships with many of my cousins" — a comment which, WWD points out, will "likely to be interpreted as a sign that Arnault could yet win over members of the Hermes clan."

Around The Web
How to Buy an Hermes Birkin Bag
Olivia Palermo's Fall Outfits
Kendall and Kylie Jenner Wearing Khaki Dresses
Feminine Bow Ties Are Now a Thing, Thanks to Hermès

POPSUGAR, the #1 independent media and technology company for women. Where more than 75 million women go for original, inspirational content that feeds their passions and interests.

Join The Conversation
Latest Fashion
X