Daily Digest

LVMH Increases Holding in Rival Hermès in ‘Opportunistic’ Move

LVMH Chairman and CEO Bernard Arnault | Source: Courtesy photo

“LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury goods maker, said it increased its stake in Hermès International SCA to 23.1 percent from 22.6 percent in what it described as ‘an opportunistic move.'”