Hermes shares

LVMH will not appeal AMF fine over Hermès

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Luxury goods group LVMH, the biggest such luxury entity on the market, announced it has decided to terminate the AMF proceedings (France’s markets watchdog) in relation to its acquisition of approximately 10% of rival Hermès’ share capital in October 2010. This decision reflects LVMH’s commitment to ensuring the soundest possible management of its investment in … Read more

Booming luxury markets helped Hermes to report record profits

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Hermes luxury handbags and silk scarves were sold in 2011 like hotcakes. Hermes reported a record year in 2011 with a 40.9-percent rise in net profit which helped push up its shares 3.01 percent in early trading, informs AFP. Hermes reported record sales, and a net result of 594.3 million euros ($787 million). The luxury … Read more