Luxury powerhouse LVMH recently bought up 14% of Parisan leather house responsible for the famous "Birkin" and "Kelly" bags. Hermes joins luxury elites like Fendi, Celine, Givenchy among others who have caught LVMH's interest. The purchase led Hermes International stocks to reach historic heights, with a trade up of 14% in shares today. LVMH traded up 3.5%. The purchase has lots of people asking questions. We will see if this is another potential buy out--hopefully one that keeps Hermes the family business that we all love!
Other changes to Hermes include its launch of SHANG XIA in September 2010. Chinese designer Ms. Qiong Er has set up the SHANG XIA company in Shanghia to create a 21st century brand from the best of traditional Chinese and other Asian craftsmanship and design. Focusing on the home, the collections include furniture, decorative objects, accessories, garments and an extended experience of tea. It will be interesting to see how this move works for Hermes. Will the Asian market accept SHANG XIA?
Source: WSJ.com
Posts
No comments:
Post a Comment