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LVMH v Hermes: Handbags at dawn
A bitter battle between luxury manufacturers LVMH and Hermes is heating up. LVMH has made no secret of the fact it wants to add its high-end rival to its portfolio. But Hermes is trying to resist any potential takeover.
Retail analyst, Rahul Sharma, explains why this is happening now. He says LVMH tried to approach some members of the Hermes family to try to build up a stake "on the quiet" and they have managed to acquire nearly 25% of the company.
Sharma says this bidding war doesn't just have implications for individual stocks but for the sector as a whole. Luxury is still doing exceptionally well and it's important for investors to look for other potential takeover targets.
01:46 minutes
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