Hermes descendant takes the reins as co-CEO, LVMH break with recessed

  Axel Dumas, a sixth generation descendant of the founder of the French company said in a statement that it would try to create the "independence" of Hermes along with co-CEO Patrick Thomas, to protect due to retire in 2014. Dumas gave some indications of the future strategy of the company.

Hermes, the 175-year-old manufacturer of Birkin and Kelly handbags, profit margins are eye-catching, but minimizes its sales target for its artisanal history. Takeover speculation and solid performance have made it one of the most expensive European values.

Hermes owners have found with hands and feet against LVMH, the luxury vehicle of billionaire Bernard Arnault, as in 2010, that they fought secretly built a 14 percent stake in Hermes. The company, founded in Paris by Thierry Hermès as a harness workshop, challenged the legality of participating in stealth capacity in legal proceedings and asked the regulator to intervene.

The battle in the public on Friday eyes distributed when regulators said they would try to LVMH hit with the maximum sentence because it disclose its activities Stealth Thu strengthen LVMH, which owns 22.6 percent of Hermes, always any wrongdoing has denied .

Hermes criticized trades that allowed LVMH to strengthen its participation unnoticed, partly through the use of derivatives, and demanded their removal.

Vice president of LVMH, Pierre Gode responded to this criticism, said in an interview with French newspaper Le Figaro that LVMH as a shareholder and everyone is asked to be treated as such others.

"There is no legal basis that would allow for the cancellation of Hermes (LVMH trades building game)," Gode said Le Figaro. He added that LVMH had filed a complaint against Hermes Reviews by Dumas, without saying why or what specific charges.