Pursuits
LVMH Chief Arnault Says Hermes Stake Isn’t ‘Passive’
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LVMH Moet Hennessy Louis Vuitton SA Chief Executive Officer Bernard Arnault suggested he won’t be a silent partner in Hermes International SCA after building a 20.2 percent stake in the maker of Birkin bags.
While LVMH’s investment is “friendly,” and “peaceful,” that doesn’t mean the company will be a “passive” shareholder, the executive said today at a meeting in Paris. LVMH has no plans to sell its Hermes stake, Arnault said.