fashionologie

Hermes Spring 2012

fashionologie — Sun, 02 Oct 2011 19:43:22 PDT

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LVMH Has Upped Its Stake in Hermes Again

fashionologie — Wed, 10 Aug 2011 09:54:35 PDT

>> LVMH, which has repeatedly said it doesn't want to make a bid for Hermes, has increased its stake in the house again, from 20.2 percent to 21.4 percent. Since first announcing it held a 14 percent stake in Hermes last October, LVMH has increased its holdings on Hermes to 20.2 percent in December and then again last month. Hermes shares have been climbing relentlessly since May on speculation that LVMH could launch a takeover, and LVMH has always said it would buy Hermes shares on the market. [Reuters, Forbes]

Hermes Wanted Helmut Lang to Replace Jean Paul Gaultier

fashionologie — Tue, 19 Jul 2011 11:04:50 PDT

>> Helmut Lang seems pretty set about not coming back to fashion - he recently shredded the remains of his archives for an art exhibition - but that doesn't mean he isn't still being pursued. Apparently, after Jean Paul Gaultier decided to leave Hermes in May 2010, Lang was the firm favorite to replace Gaultier as Hermes creative director, W reports. But: When Hermes courted Lang, he refused - he wanted to continue his newfound career as an artist instead of returning to fashion - and the job instead went to Christophe Lemaire.

While Hermes womenswear contributes less than 10 percent of the brand's annual turnover, it does have a symbolic significance in the media and how the brand is viewed. And speaking of views, another Hermes family member has spoken out about Bernard Arnault and the threat of an LVMH takeover. Pierre-Alexis Dumas, the company's group artistic director, tells W: “Hermes has grown out of a family culture with a set of values that we all believe in. I am convinced it would disappear if the family dimension was taken away or diluted. You know, there have been a lot of very good, small restaurants in Paris that have been bought by big chains over the years, usually in the name of better management. But somehow their clients have stopped going, because they have lost their souls ... This whole situation has been an incentive to work even harder. I have told everybody, ‘Listen, guys - it’s time to be more Hermes than ever.’”

LVMH Booed at Hermes Shareholder Meeting Yesterday

fashionologie — Tue, 31 May 2011 12:51:51 PDT

>> Yesterday, after Hermes once again publicly called for LVMH to sell half of its more than 20 percent stake in the brand, LVMH vice chairman Pierre Gode took the floor at the Hermes shareholder meeting to respond.

He asserted that LVMH is a legitimate shareholder, and that it is peaceful, but not passive. "Contrary to any impression given elsewhere, LVMH has never sought to destabilize the Hermes family nor the company’s staff nor suppliers. I challenge those who assert otherwise to produce a shred of evidence - for the avoidance of doubt, there is none,” Gode said.

He continued: “LVMH directors are rational and lucid people. From the outset we understood that there was no possibility of controlling Hermes because the family shareholders spoke for 70 percent of the company. That aside, it would make no sense for LVMH to destabilize Hermes as it would risk compromising the success of this great company. The more this company prospers, the happier we all are as shareholders."

When minority shareholders joined the meeting's debate, one accused LVMH of being “deceitful” and “hypocritical.” Gode replied in a heated exchange: “I cannot accept remarks which are purely slanderous and insulting, including those made at a general assembly.” He added, to boos from other shareholders: “I expect the board to police the proceedings. The least you could do, and this is what we do at LVMH, is to guarantee a certain level of courtesy in the debate."

Hermes May Be Selling Jean Paul Gaultier Stake to Puig

fashionologie — Tue, 05 Apr 2011 14:11:10 PDT

>> Puig, the parent company of Carolina Herrera, Nina Ricci, and Paco Rabanne, may soon be adding Jean Paul Gaultier to its portfolio. It has reportedly entered into exclusive negotiations for Hermes International's 45 percent stake in Gaultier and is also said to be purchasing some shares from Gaultier himself, which would give it majority ownership of the French brand. Last year, after a seven year design partnership, Gaultier departed Hermes to focus on his own line, a move reportedly expedited by the 2010 death of former Hermes CEO Jean-Louis Dumas, who had championed the designer. [WWD]

Is Hermes's United Family Front Against Bernard Arnault and LVMH Starting to Crack?

fashionologie — Tue, 15 Mar 2011 10:10:51 PDT

>> Is a fissure in Hermes's family unity against LVMH and Bernard Arnault already emerging? Some thought it would take years, but Nicolas Puech, brother of Bertrand Puech (who is executive chairman of Emile Hermes and represents the family shareholders), told French newspaper Le Journal du Dimanche that he doesn't agree with the family's current defense strategy, which involves locking up all of their shares in a holding group to protect from takeover bids by Arnault.

“I told my family that locking up our shares in a holding would have the major drawback of depriving the family shareholders of their individual power to control management,” Nicolas Puech said. He did add, however: “But in a family, you can’t agree on everything. I am very attached to my family and above all I want it to remain united.” His brother Bertrand, who Nicolas says he remains on good terms with, has repeatedly, and publicly, asked Arnault to withdraw from the company.

Hermes CEO Patrick Thomas said at a news conference recently that one family member - who owns roughly 10 percent of the capital - had not brought his shares into the holding group for tax reasons, but added that he was still united with the family. The family member in question is likely Nicolas Puech - who also noted, “I have close relationships with many of my cousins" - a comment which, WWD points out, will "likely to be interpreted as a sign that Arnault could yet win over members of the Hermes clan."

Fall 2011 Paris Fashion Week's Top Bags You Won't Want to Live Without!

fashionologie — Thu, 10 Mar 2011 13:19:22 PST

>> Hannah MacGibbon did bucket bags at Chloe and Valentino sent out delicate shoulder bags, but really, when it came right down to it, Paris designers had a one-track mind this season: clutches, clutches, and more clutches. See our favorites handbags, overwhelmingly of the clutch variety, in the slideshow - including the Dries Van Noten stunner, at left.

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LVMH Acquires Bulgari

fashionologie — Mon, 07 Mar 2011 15:17:49 PST

>> While Hermes continues to fight off LVMH and Bernard Arnault - on Friday, Hermes CEO Patrick Thomas said of the conglomerate's advances: “If you want to seduce a beautiful woman, you don’t start by raping her from behind” - another luxury brand has become part of the LVMH stable.

In a €3.7 billion ($5.2 billion) deal, LVMH will take a controlling stake in Bulgari, with the Bulgari family trading in its 51 percent share in the brand. In return, they will become the second largest family shareholder in LVMH, after Arnault. Paolo and Nicola Bulgari will remain chairman and vice chairman of the Bulgari board, respectively, and the Bulgari family will get two seats on the board of LVMH as part of the deal.

Arnault has expressed interest over the past decade in adding Bulgari to his portfolio, and the Bulgari family seems pleased, as well. "This is a significant step for our family as well as for Bulgari, occurring at a time of strong revenue growth,” said Bulgari CEO Francesco Trapani. “Our entrance into LVMH will allow Bulgari to reinforce its worldwide growth and to realize noteworthy synergies, in particular in the areas of purchasing and distribution.”

Hermes Fall 2011

fashionologie — Mon, 07 Mar 2011 12:13:27 PST

Source: Catwalking

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Christophe Lemaire Won't Be Doing Runway Extravaganzas at Hermes

fashionologie — Tue, 28 Dec 2010 20:28:17 PST

>> Christophe Lemaire, who shows his first Hermes collection in March, says that instead of channeling former Hermes designer Jean Paul Gaultier's runway extravaganzas, he expects to display his collections in a more intimate setting.

The decision reflects his vision for the brand as a whole, he tells WWD: “I think that it’s time to go back to a more honest vision of fashion, and that there is room for a simpler, more pared-down wardrobe that is better suited to everyday life. I have always campaigned to bring quality and, if possible, poetry to everyday life. You don’t change your wardrobe every six months. You build it up over time.”

He added that he is imaging his Hermes to be more in line with Martin Margiela's - who designed for Hermes between 1998 and 2003 - rather than Gaultier's: “I think I will be walking in the footsteps of Margiela more than Gaultier, even if I have a lot of respect for Jean Paul Gaultier and his virtuosity."

Lemaire, who left his position as Lacoste creative director to join Hermes, alluded to tensions with his previous management: “It’s as if the moment had finally arrived for me to show what I’m capable of. For various reasons, I have always lacked either the maturity or the means to develop my own brand, and at Lacoste, I was working under constraints that meant that, even though I think I did a good job, I was never able to unleash my full potential. So I hope to be able to do that at Hermès.” He continued: “I think I succeeded in projecting a certain vision of the brand [at Lacoste]. The problem with a brand is that if the designer has a vision and the management does not have the same vision, or does not understand that vision, then there is obviously a disconnect. So I think that is being addressed, but it was definitely an issue for me.”