Arnott began to unrequited love Hermes replica handbags in 2001, lasted 11 Year 7 steps to go; Hermes family members through the establishment of a holding company to ensure that equity is not cash, the largest individual shareholding Nicolas Concepcion Wing did not participate in
Financial weekly newspaper reporter Ouyang Mengxue / text
The luxury goods market is much higher than a fine leather bag production process is more complex and unpredictable. Stake in the struggle between LVMH and Hermes shows a tug of war between the two forces and ideas completely contrary to this industry.
LVMH, a large luxury goods group, which owns about 60 luxury brands. Its head, Bernard Arnault, France's richest man this year aspirations, and prosperity of the luxury market has brought him wealth and aura. Most luxury brands like to emphasize their long history and unique brand concept, while Arnott was not involved in the founding process of any other brand. He is a buyer, he purchased a luxury brand equity in the acquisition process, Hermes is not only Arnott dispute brand.
Hermes is an independent family of brands, about 72 members of the family holding company equity. The dispersed ownership between family members, the largest stake of about 6%.
LVMH's luxury brands have gradually embarked on the road of mass luxury, especially LV staggering. Arnott's sales strategy, this strategy leads to LV's products are widely used for the middle class. Hermes is famous niche delicate walk. The high prices and hunger marketing strategy lead to Hermes in the top of the pyramid, even in luxury.
At press time ago, Arnott has more than 22% stake in Hermes, and 16% of the voting rights, became the single largest shareholder outside the Hermes family.
LVMH said may counterclaim Hermes libel
The equity dispute between Hermes and LVMH has once again aroused the attention of the outside world, all began in Hermes in a lawsuit filed in July of this year, requires the prosecutor to investigate LVMH may exist in the process of acquisition of Hermes equity insider trading and price manipulation. Hermes and LVMH's announcement clearly recognizes this.
Subsequently, LVMH responded that they might sue Hermes libel.
Arnott Hermes. Hermes does not like even disgust LVMH. This is an obvious fact. LVMH thing holding Hermes equity exposure since the war of words between the two sides have never stopped.
Despite Arnott has repeatedly announced that he did not want Holdings Hermes, but his rhetoric did not get the trust of the Hermes family. On the the Hermes shareholders' meeting on May 30, 2011, the Board of Supervisors Chairman Bertrand Puech of Hermes and LVMH vice president Pierre Godé are diametrically opposed to each other.
As early as in 2010, LVMH Hermes equity held things be announced soon, the French financial regulator said it will review the LVMH Group's acquisition of behavior is legitimate. A few days later, the Hermes family privately find Arnot want him to give up the shareholding of Hermes, but Arnott flatly refused. After two years, Arnott is constantly purchasing Hermes equity, the proportion of shares held by the Hermes constantly climbed slightly.
Acquisition began in 2001
Arnott did not any company fees to Guo Zhedeng effort, the Hermes acquisition process is sufficient to become a classic case. His acquisitions since 2001, but it was not until 2010 when the Hermes family and the outside world know that LVMH has become Hermes largest outside shareholders.
October 2010, the autumn wore on, began to harvest grapes in Bordeaux, France, large and small manor. Family heir with Chanel, Hermes family heir Reynolds Mo Aiya, like a wine estate in Bordeaux.
He also immersed in the good mood of the grape harvest, from the radio, he heard the news of the Arnot acquisition Hermes. When he is driving a car, ready to go to a football game.
Brandt Concepcion, the grandson of the founder Emile Hermes of Hermes Wing received Arnott phone, held a news conference to announce a few hours before the Hermes equity held in LVMH. At that time, Concepcion Wing railway station. Several hours later, the news, LVMH holds a 14.2 percent stake in Hermes, will soon be increased to 17%. Three days later, it increased to 17%.
In 2001, Arnott $ 81 million through the the offshore subsidiary H annibal registered in Russia transferee 0.6% stake in Hermes. Louis Vuitton outlet later in this year, part of the Hermes also be obtained through other means equity Total equity interest held by Hermes 4.8 to 4.9 percent. Changes in equity and the ratio below 5% without announcement.
2004, Hermes had to give H annibal France an official letter. Hermes found the H annibal shareholding of 0.6% in the day-to-day shareholder registration form, Hermes was listed in 1993 to the French financial regulatory bodies require to be made public shareholders holding more than 0.5%, then Hermes wrote to H whether annibal able to Interest announced, but have not received a response of H annibal. The thing at the time also did not attract the Hermes family too much attention. Afterwards, they know the H annibal subsidiary belonging to the Arnot.
Until 2008, Arnot began the next move. He and three banks equity swap transactions, the subject matter is close to 13% of Hermes equity. Help Arnot complete this series of transactions is the Rothschild Bank, a member of the Hermes family, the Hermes Pierre's great-granddaughter, Julie worked for the bank. After hearing the news, she resigned from the Bank's work, 加入爱马仕.
Hermes's anti-Ge
LVMH announced that holders of Hermes equity next the Arnott and Brandt Concepcion Wing With meeting. The meeting time is not long, the end of the Arnot jokingly asked whether his wife ahead of the BIRKIN queued list? Results were Concepcion Wing blunt rebuff, she had to wait like everyone else.
Hermes family action Bipu Xi Yong answer more resolute. On December 3, 2010, the Hermes family members held a secret meeting near the Arc de Triomphe in Paris.
Only a few members know meet the exact location, all prior to a law firm set, and then went to the conference venue. The conference room has been equipped with anti-eavesdropping equipment.
At the meeting, the Hermes family members through the establishment of a holding company to ensure that equity is not cash. 50.2% of the equity put into the holding company which, only in access to more than 75% of the members of the family through to sell the equity of the holding company. Another 12.6% stake into the holding company, in order to leave a certain amount of cash to family members. However, the sale of less than 12.6% equity interest, family equity managed fund will have the right of first refusal.
Largest individual holding in Hermes replica handbags family members Nicholas Concepcion Wing did not participate in this project activity, he holds Hermes approximately 6% of the equity. He believes that this action does not make sense to protect the rights of the family holding, and each person's freedom is the greatest guarantee of the unity of the family. At the same time, Nicholas's lawyer stressed to the outside world that and Nicholas never sell the stock, and will not sell.