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":"3b8ca98e63b0dbfb9435dc51fe6ea478","s":"ae49c439db026a7c"}
Share your thoughts. Click here