LVMH Buys Up 14 Percent Of Hermes

Luxury-goods holding house LVMH (Moet Hennessy Louis Vuitton), whose names include heavy hitters Louis Vuitton, Fendi, Celine and Givenchy among many others, must be enjoying the returns on its luxury leather brands since it just pruchased 14 percent of super-status fashion house Hermes, most famous for its “Kelly” and “Birkin” (carried by Kim Kardashian above) bag styles. The rest of the company’s shares are held by members of the Hermes family. LVMH claims it’s not trying to attempt a total takeover, but given its aggressive history (check its epic attempt to grab Gucci), not everyone is buying that.