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Married to French lower-house lawmaker and former budget minister Eric Woerth, Florence Woerth has been sitting on the boards of Hermès group companies for more than a decade.
H51, the holding company that owns the majority of Hermès's capital, paid a dividend to the heirs of Emile Hermès more than 50% larger than the previous year's amount.
The three shareholding families of leather goods manufacturer Hermès are eager to bring Nicolas Puech, the sole heir of Emile Hermès to have remained outside the group's family holding company, into the fold. The initiative is also a bid to close the only avenue allowing heirs to secretly sell their shares in the group.
After locking Hermès's shares in two family holding companies, the three branches descendent from Emile Hermès are bolstering their united front by linking up their family offices.
After initiating legal proceedings against Bernard Arnault and LVMH in the hope of reaping 10% of the capital gains the luxury group made in its failed takeover of Hermès, Swiss wealth manager Eric Freymond mysteriously withdrew his complaint in the summer of 2019.
To force LVMH to reward him for his role in the Hermès raid, Swiss wealth manager Eric Freymond revealed the details of the luxury giant's attempted takeover in a court filing. The tell-all complaint was incendiary for Bernard Arnault's group, which had already been fined by the financial regulator for non-disclosure related to the operation.
It is the most secretive of the luxury sector's great battles: after LVMH's failed takeover of Hermès in 2010, its instigators fought long and hard over the ensuing capital gains. Glitz.paris investigates the €3.8bn dispute between LVMH chief Bernard Arnault and Swiss wealth manager Eric Freymond.
The central role played by Swiss wealth manager Eric Freymond in LVMH's planned takeover of Hermès in 2010 has led to him being the subject of a judicial investigation in France that has been kept under wraps, until now.
Hermès heir Nicolas Puech's foundation, recently renamed Isocrates Foundation and endowed with a capital of 10 million Swiss francs, has adopted new statutes that considerably restrict its founder's role.
Nicolas Puech's Swiss foundation, which holds some of the Hermès shares swapped with LVMH in 2010, has changed its name and corporate purpose. But not its management.
Twelve years after the aborted LVMH raid on Hermès, and three years after the expiry of the non-aggression pact negotiated between the luxury giant and the Faubourg St Honoré based leather goods manufacturer, the status of the shares of one of the few members of the three shareholding families to have joined forces with LVMH, Nicolas Puech, remains shrouded in mystery.