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Front Row | Hermès affair
Lawyer for alleged shares scammer Freymond now advises fleeced heir

Jérôme Lemercier, former lawyer of Éric Freymond, now advises Nicolas Puech on financial matters.© Photomontage by Glitz – Sources: All Rights reserved

Jérôme Lemercier, long-time lawyer to Swiss wealth manager Éric Freymond, has switched sides to work for the latter's main alleged victim, Hermès heir Nicolas Puech. He is also a witness in the investigation into his former client's conduct.

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Al-Fayed family
Ritz owners play down their wealth in Harrods case

Heini Wathén-Fayed, widow and principal heir of Mohamed Al-Fayed.© Photomontage by Glitz – Sources: Toby Melville (Reuters)

The family that owns the Ritz hotel in Paris has declared only modest assets to a British court as part of legal proceedings with the Harrods department store, which is seeking compensation for victims of Mohamed Al-Fayed's sexual abuse.

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Houses

Hermès
Lawyers line up over Birkin tariff refund

Having been struck down by the courts, Donald Trump's tariffs could come back to haunt Hermès.© Photomontage by Glitz – Sources: Brendan Smialowski (AFP), Hermès

Like other luxury groups, Hermès is due to be refunded the tariffs the Trump administration imposed on its flagship bag after US courts ruled the fees illegal. Lawyers are getting set to demand that the money go back to consumers.

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LVMH
Seeking growth, Moët Hennessy puts retailers under close watch over smuggling fears

Moët Hennessy, a subsidiary of LVMH, has suspended deliveries to a wine merchant, who is fighting back.© Photomontage by Glitz – Sources: Deleece Cook, Katya Azimova, Lomig (Unsplash)

The French luxury giant's wines and spirits division is tracking leaks in its distribution network. Recently, it suspended deliveries to a retailer it suspects of smuggling its products to Asia.

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LVMH
Tax surcharge takes heavy toll on Louis Vuitton

Faced with declining sales in Asia, Louis Vuitton has also had to pay several hundred million euros in one-time tax surcharges.© Photomontage by Glitz – Sources: Louis Vuitton, Rodworks (Alamy)

Already hit by falling demand in Asia, Louis Vuitton must now also absorb a one-off surcharge on profits it paid last year. Glitz understands the brand had to pay out several hundred million euros.

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Entourage

Second-hand
Latest Monogram comeback bid gives sense of déjà-vu

Mike Meimoun, 27-year-old CEO of MM Holding, is at the helm of the new version of Monogram.© Photomontage by Glitz – Sources: Greyson Joralemon (Unsplash), Instagram, monogramparis.com, Hermès, Louis Vuitton

Despite collective insolvency proceedings against it, luxury consignment shop Monogram has managed to find financial backers to support its revival.

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