HermÃ¨s given green light by Court to form holding as a protection against LVMH
In its battle against its unwated shareholder LVMH, French luxury maison Hermès registered an important victory today. The Paris Court of Appeal gave the green light to Hermès heirs to re-organize the capital of the company by creating a holding which would 50,2 percent of shares held by Hermes family members, without resorting to an IPO.
In a press release, the company’s CEO Patrick Thomas rejoyced over the news from the Paris Court of Appeal, saying that the move will secure his company’s independence at least for the next 20 years. According to the status of the future holding, shares can only be exchanged between family members and only starting with 2031 will the members of the holding be able to demand the buy back of the shares, under strict condit