The announcement over the weekend that LVMH acquired 17.1 per cent of Hermès reverberates all the way to Bridgehampton, where Hermès is a sponsor of the Hampton Classic Horse Show. LVMH, a multinational conglomerate, calls itself “the world’s leading luxury products group,” and owns Louis Vuitton, Christian Dior, Givenchy, Tag Heuer and a long list of other luxury brands. Hermès, often regarded as the world’s greatest luxury brand, is owned by the Dumas family, and is known for its exclusivity—including two-year waiting lists for some of its hand-stitched bags.
Hermès started as a saddle maker 173 years ago and for one week in its shop under a tent at the Classic sells timelessly elegant saddles along with scarves and leather goods.
There has been speculation for some time that LVMH might sell its drinks division—with such iconic brands as Moët & Chandon, Krug, and Dom Pérignon—to Diageo, the huge British drinks company. The proceeds of such a sale might provide the means for LVMH to fully acquire Hermès International.
One Wall Street analyst said “the front row at the Hermès shows might soon look a little less horsey and a little more Hollywood.”