Paris prosecutors indicted three individuals following an investigation into a share dispute between Hermès and LVMH.
Nicolas Puech, an heir to the Hermès fortune, filed the complaint that initiated the case. Puech accuses his former asset manager of improperly transferring shares to benefit LVMH.
The Paris public prosecutor’s office confirmed the indictments and the ongoing investigation. The newspaper Libération first reported the legal proceedings.
The three individuals under investigation deny all allegations. This case intensifies the long-standing and contentious relationship between the two French luxury groups.