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":"1991204d19fc761e3086e3c2e2e5dad2","s":"f08c3e1be0da703c"}