LVMH Denies Knowledge of Hermès Share Misappropriation During Covert Stake Build

Key Facts

1LVMH stated it was unaware of any misappropriation of Hermès shares while building a covert stake in its rival.

In a new development in the legal dispute between luxury goods giants, LVMH has denied any knowledge of misappropriation of Hermès shares while building a covert stake in its rival, according to a report by the Wall Street Journal. The statement responds to allegations from a Hermès heir regarding missing shares, with LVMH defending its actions in building a position in the rival luxury group.

The dispute comes amid a slowdown in global luxury demand, particularly in China. Per market data, LVMH shares (MC.PA) closed at €493 on June 24, 2026, while Hermès shares (RMS.PA) closed at €1,629. Previous legal tensions between the two companies, such as a 2014 settlement with French market authorities, provide context for the ongoing conflict.

Investors are watching the case closely, as it could impact confidence in corporate governance. At the close on June 24, 2026, LVMH traded in a range of €484.65–€495.4, while Hermès ranged between €1,602.5 and €1,636.5. No major economic events in the next seven days are directly linked to this case, but any new legal developments could act as a catalyst for both stocks.