LVMH Moet Hennessy Louis Vuitton, the world's largest luxury goods group which is controlled by the Arnault family, announced 23 October that it has taken a €1.45 billion share in fellow family company Hermes International.
LVMH, which owns brands such as Dom Perignon, TAG Heuer and Marc Jacobs, purchased 14.2% of luxury company Hermes and also plans to convert derivatives LVMH holds in Hermes into shares, giving it a total of 17.1% of Hermes capital.