LVMH is currently under investigation for its allegedly shady purchase of a large chunk of Hermès shares last month, to which Hermès has reacted with a series of amusing insults and questionably legal business maneuvers of its own. For their own part, LVMH has remained quiet throughout the controversy except to assure everyone that they’re not planning a hostile takeover in the immediate future. However, yesterday LVMH’s vice-chairman, Pierre Godé, finally reached a breaking point when French investor Fabrice Rémon published a critical open letter calling for more information about LVMH’s surprise purchase of Hermès’s stock. Godé frostily responded to Rémon’s letter by accusing him of writing it at Hermès’s bidding:
“You recently informed me of the mission you have been entrusted with to launch a campaign against LVMH and its executives…You will understand that we are under no obligation to respond to your unfounded queries, the purpose of which is only too obvious.”
No one from the Hermès camp has joined this particular bout of verbal sparring yet, but it’s probably just because they’re still working on their complex, metaphor-laden comeback.
More Verbal Fire in Hermès-LVMH Feud [WWD]