Hermès

Fashion Ties the Knot (WSJ)
“Fashion’s most matronly accessory is experiencing a rejuvenation. Silk prints have evolved from hunting scenes to tattoo-like images. Scarves have loosened up… They have moved off the neck to substitute for belts, bandanas, bracelets and even a sling for a broken arm.”

Hermès Wins AMF Ruling (Bloomberg)
“Hermès founding family can pool their shares in a holding company without having to bid for the rest of the luxury-goods maker, France’s stock market regulator said, bolstering its defense against LVMH.”

Regulator to weigh Hermès buyout waiver (Reuters)
“France’s stock market regulator will examine Hermès request for a waiver on buying out minority shareholders on Thursday as the luxury goods maker tries to fend off a takeover from rival LVMH, according to a person familiar with the matter.”

Hermès Shares Jump in Paris After LVMH Increases Holding (Bloomberg)
“Hermès International rose as much as 5 percent in Paris trading after larger luxury-goods rival LVMH Moet Hennessy Louis Vuitton SA said it increased its stake in the Birkin bag-maker to more than 20 percent.”

A Luxury Leader Shies From an Unwelcome Suitor (NY Times)
“In the world of luxury brands, Hermès International has cultivated an image of purity… Lately, however, it has been attracting attention less for its expensive silk scarves… and more for the unwelcome approach of [LVMH]the luxury goods giant.”

Richemont’s Focus on Saving Cash Pile Damps Hermès Speculation (Bloomberg)
“Richemont said the world’s largest jewelry maker needs its 1.88 billion-euro ($2.6 billion) cash pile to fund growth of its own brands, damping speculation the owner of Cartier jewelry may buy shares in Hermès.”

Hermès needs to style media defense to unsaddle LVMH (Reuters)
“Winning the media war against luxury giant LVMH which began in earnest this week is likely Hermès’ only realistic chance of shaking off its unwelcome new shareholder.”

Luxury group Hermès tells LVMH to back off (Business Times)
“‘The family has clearly and unanimously said: If you want to be friendly, Mister Arnault, you need to withdraw,’ Mr Puech, a fifth-generation descendant of founder Thierry Hermès, was quoted as saying in the [Le Figaro] newspaper.”

LVMH says will continue to buy Hermès shares (Reuters)
“LVMH said… it planned to buy more Hermès shares and disclosed to French regulators that it built up its 17.1 percent stake in Hermes partly through derivatives, called equity swaps.”

French regulator to examine LVMH swoop on Hermes (Reuters)
“French luxury goods company LVMH’s surprise acquisition of 17.1 percent of rival Hermes at a major discount to recent market levels will be investigated by the local market regulator.”

LVMH `Playing a Waiting Game’ for Hermès Takeover (Bloomberg)
“[LVMH said] it doesn’t intend to launch a tender offer, take control or seek board representation at the maker of Birkin bags after announcing it owns 14.2 percent of Paris-based Hermès, with the option to increase the stake to 17.1 percent.”


Hermès to the rescue of Indian crafts? (Live Mint)
“If a hundred Shang Xia’s bloom, Asia’s fast-evaporating artisanal heritage will not only get a second lease of life, it will be raised to a whole new level. At their core, luxury brands are cultural products, their heritage coded and reinterpreted for contemporary times.”

Hermès launches street style website (MyFashionLife)
“Dedicated solely to its signature square scarves, the new website, called J’aime Mon Carre (I Love My Scarf), takes a street style turn as it shows hip young things working the scarves in ways Hermès would never have dreamed of.”

5 Things We Know About Hèrmes’ New China Brand, Shang Xia (Jing Daily)
“Everything from the design to the materials, manufacture, marketing and management will be local… It is a Chinese brand, developed in China with the Chinese team, based on Chinese craftsmanship and broadly made in China.”

Hermès Raises 2010 Sales Growth, Operating Profit (Bloomberg)
“[Hermès] raised its 2010 revenue forecast after second-quarter sales increased faster than analysts had estimated, on demand in Asia. Full-year revenue may grow as much as 12 percent… Second-quarter sales rose 27 percent.”