Stumbled on this article from the WSJ website today. Discusses LVMH's likely hostile takover attempt (ongoing), sheds light on what makes them a successful house and irresistible to many. Perhaps even some insight on Foo's boner for their green wallet?
Read more: http://online.wsj.com/article/SB10001424053111903596904576517151602728260.html#ixzz1W9IMkcqE
"Hermès and LVMH are at the two extremes of the culture and industry of luxury," Hermès's CEO, Patrick Thomas, the first nonfamily member to run the 174-year-old company, told me over lunch in the company's dining room at the Faubourg Saint-Honoré headquarters in June. "We are artisans and creative. We try to produce the most beautiful products in this industry. The artisans put their heart and soul in the bag and when the client buys it, they buy a bit of the ethic of Hermès. For six generations, the same family has run Hermès. That has given this company something no other company has. Our combat with LVMH is not an economic fight, it's a cultural fight. We try to do poetry and we get excellent economic results. We must protect that."
Read more: http://online.wsj.com/article/SB10001424053111903596904576517151602728260.html#ixzz1W9IMkcqE