31 Days
Source:
الاقتصادية
LVMH and Hermès Heir's Ties Uncovered
Legal documents reveal that LVMH signed an agreement in 2002 to purchase shares from Hermes heir, Nicolas Bush, after its collaboration with his financial advisor, Éric Frémond, who passed away last year. The data indicates that LVMH paid Frémond's firm over $20 million between 2001 and 2009 for confidential services that helped him build a significant stake in Hermes, expanding on their previous relationship and raising questions about the company's denial of attempting to acquire Bush's share. The missing shares issue dates back to the heir, who claims he discovered his 6% stake vanished in 2022, and is now seeking €14 billion in damages from LVMH CEO Bernard Arnault. The details of the fate of these shares remain unclear to this day.
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