Like a plot twist out of Wall Street (but with more equestrian gear), fashion giant LVMH finds itself pitted against Hermès in a corporate tug-of-war. Apparently the fuss began when LVMH stealthily acquired 17% of the luxury house earlier this year, which got Hermès’ riding girdle all in a bunch, prompting accusations of a hostile takeover.
The rest of the details sound like a high-stakes Monopoly game, so we’ll just note that LVMH CEO Bernard Arnault has a taste for all things shiny. Hermès would be a prized jewel in the LVMH crown, which also includes Dior and Givenchy. But the folks at Hermès aren’t about to be tamed so quickly, and the French authorities have been called in to investigate.
Who’ll break the other’s spirit? Pass the popcorn.