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Hermes Accuses Heir of Lying About Shares During LVMH Battle

  • Birkin bag maker lodged secret complaint about family member
  • Case into alleged false statement links to LVMH move on Hermes
Hermes told French investigators Puech, a great-great-grandson of the founder of the 183-year-old company, made a false statement to the luxury firm about his shareholding.

Hermes told French investigators Puech, a great-great-grandson of the founder of the 183-year-old company, made a false statement to the luxury firm about his shareholding.

Photographer: Benjamin Girette/Bloomberg
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French authorities are looking into whether a Hermes International heir lied about selling some of his shares during a rival’s attempt to build a stake in the maker of $10,000 Birkin handbags.

The probe into Nicolas Puech’s claim he still owned nearly 6% of Hermes half a decade ago was sparked by tension in the family after LVMH’s 2010 surprise stakebuilding. The case, which focused on the role of Puech’s wealth manager, Eric Freymond, was secret until its disclosure this month by France’s top court.