Commerce
January 10, 2011
By Peter Finocchiaro
Independent French fashion house Hermès has rebuffed the advances of conglomerate LVMH Moet Hennessey Louis Vuitton through its creation of a seemingly impenetrable holding company. But will it last?
{"ct":"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","iv":"72d1f02b6224024eb7ad6c30fdbde70e","s":"ed9a6d58c4f37cb4"}
Share your thoughts. Click here