By
Reuters
Published
December 3, 2025
LVMH on Wednesday reiterated it had never misappropriated the shares of Hermes inheritor Nicolas Puech when it constructed up a stake in its rival.
“LVMH and its (controlling) shareholder firmly reaffirm that they never, at any time, misappropriated shares of Hermes International, in any way whatsoever or without anyone’s knowledge, and that they do not hold any “hidden” shares, contrary to what Mr Nicolas Puech suggests,” the company stated in a assertion.
Reuters this week reported Puech has sued LVMH CEO and controlling shareholder Bernard Arnault and his LVMH luxurious conglomerate, alongside together with his former wealth supervisor Eric Freymond and a few affiliated corporations, in a civil case associated to his declare that he was disadvantaged of Hermes shares now price billions of euros. Puech couldn’t be instantly be reached for remark.
The lawsuit is linked to a legal investigation at present underway in France. LVMH in its assertion known as current media reviews about its doable implication within the case a “clearly coordinated press campaign.”
Puech was as soon as amongst Hermes’ largest particular person shareholders. Last week, he claimed in a uncommon interview with L’Express he had no data that Freymond was shifting Hermes shares in his title, allegedly for Arnault’s profit.
French paper Le Canard Enchaine reported this week that Arnault was quickly attributable to be interviewed by investigative judges in Paris, with out specifying the date. His spokesperson didn’t reply to a request for touch upon the report.
The Paris public prosecutor’s workplace instructed Reuters on Tuesday that thus far, solely Freymond had been positioned beneath formal investigation. Arnault and his corporations haven’t been positioned beneath formal investigation, it added.
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