Pursuits
Hermes Birkin Bags, IPhone Cases Spark LVMH’s Stake
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LVMH Moet Hennessy Louis Vuitton SA Chairman Bernard Arnault’s investment in Hermes International SCA brings him closer to the luxury brand he has been trying to emulate for years.
LVMH said late yesterday it may buy more Hermes shares after announcing on the weekend it spent 1.45 billion euros ($2 billion) on 17.1 percent of its Paris-based rival. The investment comes as Louis Vuitton steps up efforts to become more like Hermes by increasing prices, investing in leather production and focusing a marketing campaign on craftsmanship.