takin' it to court

LVMH and Hermès Kiss and Make Up

After four years of discord, luxury giant LVMH has settled its differences with Hermès, The Wall Street Journal reports today. After LVMH took a stake in its competitor, eventually coming to own 23 percent of the company, the latter took things to commercial court. Under the terms of the just-reached agreement, LVMH will redistribute its stake and promises not to buy shares in Hermès, which is committed to remaining independent. (At one point in the conflict, then-CEO Patrick Thomas unfortunately compared the buyout attempts to “rape.” Can people just stop making that comparison, please?)

LVMH and Hermès Kiss and Make Up