LVMH Slips With Luxury Peers as French Judges Scrutinise Its Hermès Stake-Building
Published on 11/06/2026 at 15:12 | Editorial boerse-global.de
LVMH shares traded at €402.85 on Thursday, down 2.7%, as a sell-off in US technology stocks rippled across the Atlantic and weighed on the Paris bourse following Wall Street's losses overnight. The decline was not confined to the luxury giant: Kering and Hermès also gave ground, with the pullback sweeping through several of the sector's major names.
Separately, the group confirmed its latest monthly disclosure on share capital and voting rights. As of 31 October, LVMH counted 494,606,080 shares outstanding, together with 743,358,184 gross voting rights and 739,382,278 net voting rights. The mandatory notice also set out transactions in the company's own shares, which were filed with the French market regulator, the AMF — as was an earlier release covering similar buyback activity.
Investigating judge reviews stake-building
Away from the day's trading, the French judiciary is examining how LVMH came to hold a stake in rival Hermès. An investigating magistrate is looking into the historical purchases in connection with allegations from Nicolas Puech, an heir to the Hermès founding family, who claims he was stripped of his holding. LVMH declined to comment on the pending proceedings when approached by Le Monde, which reported the inquiry on 30 October. At the heart of the judge's review, according to the newspaper, is the group's role in the acquisition of Hermès shares at the time.
The scrutiny follows an earlier Le Monde report, dated 29 October, that French prosecutors had questioned LVMH executive committee member Jean-Jacques Guiony about the group's historic build-up of a 17% stake in its competitor.
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New creative role at Louis Vuitton
Over at Louis Vuitton, Hector Muelas has taken on a newly created position. The company confirmed on 23 October that he was named Chief Brand Creative Officer effective 1 November, reporting to deputy chief executive Damien Bertrand.
On the watchmaking side, a consultation process began roughly two weeks ago at LVMH-owned Zenith, according to Reuters. Up to half of the Swiss workforce could face the risk of job losses as the brand pivots toward more profitable luxury timepieces. No redundancies have been completed; Reuters framed the potential cuts as part of the consultation now under way.
Storefronts damaged in Paris protests
About three weeks ago, Louis Vuitton and Celine boutiques in Paris were damaged during protests. Le Monde reported that the windows of the Louis Vuitton store were smashed and the Celine branch was looted — two brands whose Paris locations were caught up in the unrest.
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For investors, LVMH's financial calendar also flags two dates tied to its interim dividend. 30 November is the last trading day on which the payout can be claimed, with payment scheduled for 3 December.
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