PARIS, Dec 3 - LVMH on Wednesday reiterated it had never misappropriated the shares of Hermes heir Nicolas Puech when it built up a stake in its rival.
"LVMH and its (controlling) shareholder firmly reaffirm that they never, at any time, misappropriated shares of Hermes International, in any way whatsoever or without anyone's knowledge, and that they do not hold any "hidden" shares, contrary to what Mr Nicolas Puech suggests," the company said in a statement.
Reuters this week reported Puech has sued LVMH CEO and controlling shareholder Bernard Arnault and his LVMH luxury conglomerate, along with his former wealth manager Eric Freymond and some affiliated companies, in a civil case related to his claim that he was deprived of Hermes shares now worth billions of euros.
Puech could not be immediately be reached for comment.
The lawsuit is linked to a criminal investigation currently underway in France.
LVMH in its statement called recent media reports about its possible implication in the case a "clearly coordinated press campaign".
Puech was once among Hermes' largest individual shareholders. Last week, he claimed in a rare interview with L'Express he had no knowledge that Freymond was moving Hermes shares in his name, allegedly for Arnault's benefit.
French paper Le Canard Enchaine reported this week that Arnault was soon due to be interviewed by investigative judges in Paris, without specifying the date. His spokesperson did not reply to a request for comment on the report.
The Paris public prosecutor's office told Reuters on Tuesday that so far, only Freymond had been placed under formal investigation. Arnault and his companies have not been placed under formal investigation, it added.
(Reporting by Tassilo Hummel; Editing by Benoit Van Overstraeten)
LVMH Moët Hennessy Louis Vuitton SE is the world leader in luxury products. Net sales break down by family of products as follows:
- fashion and leather items (46.7%): brands such as Louis Vuitton, Christian Dior, Celine, Loewe, Kenzo, Givenchy, Fendi, Emilio Pucci, Marc Jacobs, Berluti, Loro Piana, etc.;
- watches and jewels (13%): Bulgari, TAG Heuer, Zenith, Hublot, Chaumet, Fred brands, Tiffany, etc.;
- perfumes and cosmetics products (10.1%): perfumes (Christian Dior, Guerlain, Loewe, Kenzo, Givenchy brands, etc.), makeup products (Make Up For Ever, Guerlain, Acqua di Parma, etc.), etc.;
- wines and spirits (6.6%): champagnes (Moët & Chandon, Dom Pérignon, Veuve Clicquot, Krug, Ruinart, Mercier, Château d'Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc, Colgin Cellars, Hennessy, Glenmorangie, Ardbeg, Belvedere, Woodinville, Volcán de mi Tierra, Chandon, Cloudy Bay, Terrazas de los Andes brands, etc.; No. 1 worldwide), wines (Cape Mentelle, Château D'Yquem, etc.), cognacs (mainly Hennessy; No. 1 worldwide), whisky (mainly Glenmorangie), etc.;
The remaining net sales (23.6%) are from selective distribution through the Sephora, DFS, Miami Cruiseline chains and Le Bon Marché and La Samaritaine department stores.
At the end of 2025, products are marketed via a network of 6,283 outlets located throughout the world.
Net sales are distributed geographically as follows: France (8.3%), Europe (18%), Japan (7.9%), Asia (26.5%), the United States (25.6%) and other (13.7%).
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