Skip Nav
Gigi Hadid
50 of Gigi Hadid's Best Outfits That You Can Totally Wear Right Now
Gigi Hadid
15 Staples You Need If You Want to Dress Like Gigi Hadid All Summer
Spring Fashion
The Most Flattering Swimsuits For Every Body Type

Hermes Family Exploring Further Defensive Measures Against Bernard Arnault and LVMH

>> Now that Bernard Arnault has publicly told Hermes that he won't be withdrawing, the family behind the brand is looking into further defensive measures.

Bertrand Puech, who represents the Hermes family, described Arnault and LVMH's presence as thus: "It's like a mosquito buzzing around, and it's annoying. But it's very difficult to get a mosquito out."

So the Hermes family is considering funneling its shares into an unlisted holding company, which would prevent individual family members from selling their shares to outsiders. This would be an extra defense: Puech heads Emile Hermes, the limited partnership that controls the fashion house and is open only to direct descendants of the founders, which is the current defense in place. The limited partnership's by-laws give the Hermes family decision-making power, even if only one family member remains a shareholder — which means it would be difficult for an outsider to control the company without the entire family's approval.

"The limited partnership is our best defense," Hermes Chief Executive Patrick Thomas said yesterday. "We put it in place for an event like today."

Around The Web
Join The Conversation
Si Newhouse on Ousting Anna Wintour From Vogue — "Never. I Hope She's Here 10 Years From Now"
Vittorio Missoni's Son Says His Father Will Come Back
Marc Jacobs Wall Street Journal Interview
How Fashion People Fight Cold and Flu Season
Carine Roitfeld Documentary Mademoiselle C
Raf Simons In at Dior
Marc Jacobs 92nd Street Y Conversation
Doo-Ri Chung Named Creative Director of Vince
Humberto Leon, Carol Lim's Debut Spring 2012 Kenzo Collection Well-Received
LVMH Acquires Nicholas Kirkwood

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.

From Our Partners
Latest Fashion
All the Latest From Ryan Reynolds