Setting the Bar at the Highest HeightBy
Speculation that LVMH Moët Hennessy Louis Vuitton SA may ultimately buy the company and a shortage of freely traded stock has inflated Hermes’s share price, according to HSBC’s Antoine Belge. Descendants of Hermes’s founder hold about 69 percent of the shares, individually or collectively. Excluding LVMH’s stake and other long-term holdings, the free float is only 6 percent, according to Exane BNP Paribas’s Luca Solca.
—Andrew Roberts, “Hermes $10,000 Birkin Purse Seen Leading to Record Sales,” Bloomberg News, Feb. 11, 2013
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