As luxury conglomerate LVMH Moët Hennessy Louis Vuitton recently decided to forgo its expected appeal and take the fine handed down by Autorité des Marchés Financiers, or AMF, for acquiring shares in family-owned French leather goods maker Hermès, there are a few takeaways for the luxury industry.
{"ct":"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","iv":"7bf2091b5aa86abc5e338da17932224a","s":"62a33cb36d262c4e"}