Not been keeping up with the fraud fight? Don’t worry, we’ve summarised the full details for you here , but basically Hermes has accused Louis Vuitton’s parent company of illegally trying to amass a majority stake in its shareholdings. As the case continued to play out in a French court this week, Hermes reportedly accused LVMH of committing the “most important fraud in the history of the French stock market.” It’s a heavy claim and Hermes representatives have shown no sign of wavering under the power of their words, but despite the severity of the accusations, LVMH is still claiming total innocence. In fact, a spokesperson has gone so far as to tell French newspapers that Hermes’ claims should be dismissed entirely, and considered a part of a wider slander campaign. Eeish. You can’t get more of an ‘it wasn’t me’ than that. What do you think? Reckon LVMH was up to no good? More details here to help you decide.
Hermes stayed in second place at $19.1 billion, unchanged from last year. As consumers make room for those luxuries that make them feel better by trading down on other items, it is the middle-of-the-road brands that are feeling the impact of this polarisation, Millward Brown Optimor said in a statement. Rolex, Chanel, Cartier, Burberry, Fendi and Coach rounded out the top 10 most valuable luxury brands in the study. Pradas surge was the fastest across 13 categories measured by Millward Brown Optimor, placing it 95th out of 100 brands overall. Apple Inc. (AAPL) again ranked first with its estimated value rising 1 percent to $185 billion, the study found. Pradas brand awareness in China , Russia , Brazil and the Middle East continues to rise, said Anastasia Kourovskaia, vice-president of Millward Brown Optimor EMEA.
With Fall comes a whole host of fashions and accessories. Louis Vuitton teamed up with sibling fashion duo Jake and Dinos Chapman a.k.a. the Chapman Brothers to go in on the Fall/Winter Accessories collection. Known for their eye-catching and provocative designs, The Chapman Brothers brought a new element to the Louis Vuitton brand. The bags and scarves are adorned with a heavily embroidered and colorful pattern, compliments of the Chapmans. The edgy patterns have navy blue and red bases, with owls, vines, flowers, sharp-teethed koalas, and even an eye ball as part of the design. This limited edition collection will be dropping soon at Louis Vuitton stores worldwide. Check the gallery after the jump Louis Vuitton Handbags to some of the pieces and the design.
Nathan Outteridge (on the right) is set to steer the Artemis boat in the Louis Vuitton Cup. (Clive Mason/Getty) Just when Artemis will enter thatcompetition is still up in the air. The team is still building its new wing and getting its second boat ready after the first one was wrecked in the May 9 crash that claimed the life of strategist Andrew Bart Simpson. Americas Cup officials recently said they hoped Artemis would enter the Vuitton Cup round-robin against Luna Rossa Challenge and Emirates Team New Zealand at the end of July. But its possible that Artemis will not race at all until the semifinals beginning Aug. 6. The winner of the round-robin can advance directly to the finals; otherwise, the semifinals are the first races that really count. The winner of the finals faces Oracle Team USA in the Americas Cup in September.
And now, we have one morepretty gargantuanreason to talk about the house. Today, Vuitton revealed that its new window installations will not consist of the brightly hued works of an eccentric or iconic artist (cue Stephen Sprouse and Yayoi Kusama). Instead, the brand has opted for dinosaurs. Seven stores worldwideincluding the boutiques on Paris Champs Elysees, Londons New Bond Street, and New Yorks Fifth Avenuewill get the Jurassic treatment, hosting golden reproductions of prehistoric skeletons in their facades. Velociraptors, Dimetrodons, Stegosauruses, Tyrannosaurus Rexes, and Triceratopses are just some of the species that will inhabit the displays, which check this out were apparently inspired by a trip to the Natural History Museum in Paris Les Jardins des Plantes. On view from tomorrow, the beasts seem fairly friendlymannequins wearing Vuittons Pre-Fall 13 wares are perched peacefully atop the creatures backs. Katharine K. Zarrella
‘Exquisite quality is at the heart of Hermes handbags and this sale offers the creme de la creme of Hermes designs with a number of timeless pieces and rare exotic leathers. ‘The online-only format of this sale follows hot on the heels of our successful Vintage Couture: Handbags, Luggage and Accessories sale in April this year. ‘This sale which runs for 10 days provides another extended opportunity for buyers around the world to purchase handbags and accessories by some of the greatest designers of all time.’ Handbag history: A lesson Hermes Kelly and Birkin bags continue to be highly sought-after and have become increasingly popular since they were first designed. Birkin bags were inspired by English actress and singer Jane Birkin in the 1980s. In a chance encounter with the former Hermes CEO on an airplane, the celebrity suggested the design for a weekend bag, which paved the way for the consistently popular Birkin bag. The Kelly bag was named after Grace Kelly, who in 1956 had just become Princess of Monaco and was seen carrying the original leather ‘Sac a depeche’ to hide her pregnancy. Photographs of the young starlet were sent all over the world, leading to the bag being known as the Kelly. Originally designed in 1935 the shape is a classic form which has gained worldwide acclaim. Actress Jane Birkin circa 1967 (left) and Coco Chanel (right) Chanel Chanel, ever practical, introduced a handbag suspended from thin straps in 1929, as an alternative to the clutch – freeing up the busy woman-about-towns hands for other things. When she returned from retirement in 1954, Chanel decided to update her handbag even further and called the bag 2.55 after the date of creation, February 1955. The 2.55 remains the most popular bag today, both vintage and new. In fact, Chanel released an exact copy of the original 2.55 in February 2005 to commemorate the bags 50th birthday.
The two companies have been locked in a bitter feud ever since LVMH, which owns Louis Vuitton and dozens of other luxury brands, revealed that it had secretly built up a 17 per cent stake in the family-dominated Hermes. LVMH, led by tycoon Bernard Arnault, later built this holding up to 22.6 per cent prompting Hermes to cry foul and accuse Mr Arnault of surreptitiously trying to add Hermes to his large stable of brands. In its accusation at a French business court, Hermes accuses LVMH of using highly complex financial instruments set up by top French banks that enabled it to conceal its buying spree from French regulators. Hermes demands that LVMH sell back the stock to the three banks — Societe Generale, Natixis and Credit Agricole — which are themselves accused in court of acting as de-facto fronts for the alleged takeover attempt. The courtroom battle is the latest in a barrage of legal proceedings launched by Hermes against LVMH, whose spokesman told the French newspaper that the accusations by Hermes were unfounded and part of wider slander campaign. Story first published on: June 19, 2013 18:38 (IST)