Global luxury retailer Louis Vuitton said Tuesday it had increased its stake in rival to 20%, after the Hermes family pleaded with Louis Vuitton not to do so.
Louis Vuitton said in a statement to the market regulator that as of Dec 17 it held 20.21 percent of Hermes after buying more shares on the open market. Louis Vuitton purchase it first shares back in October 2010.
Hermes is currently consulting with an attorney to remove its shares from public markets. The family said from now on they intend to sell privately. They better hurry for there is nothing left to sell lol. Louis Vuitton is shady.