News - Luxury industry mourns passing of Jean Louis Dumas

Hermès, and the luxury industry at large, mourns the passing of Jean Louis Dumas. He was the highly respected CEO of Hermès International between 1978-2006 and is credited for transforming the company into one of the most exclusive fashion houses. Market analysts are now speculating whether the family members of the 5th and 6th generation will sell their 72% stake in the company as Mr Dumas, the grandson of Emile-Hermès, was seen as a federating force within the family. LVMH is widely perceived as a key contender to buying Hermes, though it might have to sell some of its assets for that. Hermes’s AGM is due Jun 7th.