Heir Accuses LVMH of Wrongfully Acquiring Hermès Shares, Files €14 Billion Lawsuit
A deepening feud between two titans of French luxury has re-emerged, as Nicolas Puech, an 82-year-old Hermès heir, filed a civil lawsuit on 15 May 2025 claiming he was deprived of shares worth €14.3 billion. Puech, who resides in Switzerland and is estranged from much of his family, accuses his late wealth manager, Eric Freymond, of disposing of six million Hermès shares without his consent for the benefit of Bernard Arnault and the LVMH group. The assets allegedly represent 5.76% of Hermès’ capital. The Paris prosecutor’s office confirmed that a related criminal investigation launched in 2024 is still ongoing.
According to reports, Freymond admitted to French judges in 2024—shortly before his suicide—that he had sold 4.8 million of Puech’s shares to LVMH in 2008, along with other smaller transactions. The current location or ownership of the remaining shares remains unclear, with Hermès CEO Axel Dumas suggesting last July that Puech may no longer hold any. Neither LVMH nor Puech’s legal team have commented on the case, while questions continue to circulate over how the shares may have played into earlier secret stakebuilding by Arnault.
The lawsuit revives memories of the dramatic early-2010s clash in which LVMH quietly built a stake in Hermès without proper disclosure, ultimately leading to a record €8 million fine and a forced withdrawal from Hermès’ capital—albeit with a €2.4 billion profit. The new claims reignite speculation over whether Puech’s contested holdings were among the shares used in that attempted takeover, adding fresh intrigue to a long-running rivalry between France’s most powerful luxury houses.
Pic Courtesy: google/ images are subject to copyright
