Luxury conglomerate LVMH Moet Hennessey Louis Vuitton is stuck in the craw of family-owned scarf and leather-goods maker Hermes. Crying foul is not working - not with that famed collector of luxury houses, Bernard Arnault.
In its latest effort to beat back the interloper, Hermes has allegedly requested that LVMH halve its shareholding from 20 percent to 10 percent. But LVMH is not legally bound to divest its Hermes holdings and shows little inclination to fulfill that request.