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LVMH has acquired a 17.1% stake in Hermès International

LVMH acquires 17% stake in Hermès

Luxury goods group LVMH Louis Vuitton Moët Hennessy, which owns Tag Heuer, Dior Watches and De Beers, announced on October 26 that it has built up a €1.45bn (£1.2bn) 17.1% stake in French company Hermès, famous for its scarves and bags.