New CEO Hermès has to keep LVMH at bay | RetailDetail

New CEO Hermès has to keep LVMH at bay

New CEO Hermès has to keep LVMH at bay

Axel Dumas (42) is the new CEO of French luxury group Hermès. Until the end of January 2014 he will work with current CEO Patrick Thomas, who will then retire. Dumas has to help ensure the independence of the company from ‘intruder’ LVMH.

Sixth generation shareholder

Dumas, already from the sixth generation of family shareholders of Hermès, has been working for the company since 2003. He has had a series of important positions: he had the lead over the jewellery branch and the leather department. In 2011 he was named director of operations.

 

Before Dumas started working at Hermès, he worked for BNP Paribas in China and the United States. He studied philosophy at the Sorbonne in Paris and corporate management at American Harvard. He also has a degree from the Institut d’Etudes Politiques in Paris.

 

‘Continue to protect our independence’

The new CEO was "honoured" by the offer he received from the company: “I know the support and vision of family shareholders are invaluable to continue the work of my predecessors, especially for protecting our independence”, he said.

 

That last part points to the manoeuvre of competitor LVMH, who silently built a participation of 22.6 percent in Hermès. The way this happened is currently being legally challenged, but “The participation is unwanted and undesirable”, Dumas stated.

Questions or comments? Please feel free to contact the editors


Carrefour Belgium launches personal shoppers with 90 minutes delivery

19/07/2018

In the intense struggle for the customers' favour, Carrefour Belgium has presented a new service - featuring personal shoppers, delivery within 90 minutes and an app that can be expanded into a market place.

Cultured meat in stores by 2021?

18/07/2018

Commercialization of laboratory cultured meat is coming closer. Pioneer Mosa Meat has raised 7.5 million euros for the construction of a factory that will bring an affordable product to the market within three years.

Aldi commits to renewable energy

17/07/2018

Aldi Nord has published an ambitious international climate policy: the retailer wants to reduce greenhouse gas emissions by 40% by 2021 and reveals some compelling figures in its second sustainability report.

Discounters' major opportunities for growth in Western Europe

16/07/2018

Despite the multitude of stores in most European markets, discounters plan to open up to ten million square metres of store surface in five years' time. Even in so-called saturated markets they still see a lot of chances for growth, LZ Retailytics says.

Contamination bites huge chunks of Greenyard's value

16/07/2018

Vegetable producer Greenyard is under attack after a listeria contamination in its Hungarian factory. The company says to have taken all necessary measures, but the share price plummets.

Starbucks dumps plastic straws worldwide

12/07/2018

American coffee company Starbucks will ban plastic straws in their stores starting from 2020. A small step for coffee enthusiasts, but a big step for the environment, as the coffee giant uses about a billion straws every year.