Family clings on to Hermés

Fashion house Hermés has shielded itself from hostile takeover by creating H51, a holding company with a 50.2 per cent stake in the family business, amid fears that luxury brand LVMH was looking to make a bid after buying 17 per cent of its shares. Speculation of this bid has sent Hermés shares rocketing, up 43 per cent since January, although the creation of the holding may weaken this trend.