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HERMES mounts a ”wall” of cash against LVMH

French luxury maison HERMES announced this week an 18% jump in sales to a level of 2,4 billion euros in 2010 and a staggering 46% growth in net profit for 2010, reaching a level of 422 millions euros. Hermes CEO Patrick Thomas seized the opportunity to slash out against LVMH which had acquired an important stake in Hermes, saying ”LVMH will remain an isolated and undesirable shareholder in Hermes”. The exceptional financial performance of the brand in 2010 makes de-listing from the stock exchange highly unlikely. 

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