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?
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","iv":"8154dd36ad8d3662c2bdf2c57effc6c5","s":"db8f98c60f2f67d4"}
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