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":"153cae0190638d2265439e3a600db210","s":"fceef551b24bc11b"}
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