Hermes raised forecasts for revenues this year amid growing interest in its scarves, accessories and leather bags, in a reminder of the luxury goods company's attraction for rival LVMH, whose advances Hermes is hoping to fend off.
Hermes, which is majority family-owned, has sought to defend itself from your threat of a takeover by LVMH, the world's largest luxury group, which includes built up a 20 per cent stake in the company.
Speculation that Bernard Arnault, LVMH's controlling shareholder and France's wealthiest man, is intent on buying Hermes has sent its shares soaring nearly 50 per cent since April, despite LVMH saying it has no plans to create a bid.
Hermes forecast a 12-14 per cent rise in consolidated revenue at constant exchange rates for 2011, ditching its previous range of 8-10 per cent after a better-than-expected performance in the second quarter.
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