LVMH Buys 14.2% of Hermes


This is BIG news in the fashion business world! Louis Vuitton Moet Hennessy the world’s GINORMOUS luxury conglomerate bought 14.2% of HERMES International for approximately $2 Billion and plans to raise it’s stake to 17.1% and there are no plans of LVMH taking over or seeking control of its’ contender. Might I add LVMH’s sales went up 24% in the 3rd quarter of 2010!!!– IN A RECESSION!


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