Nicolas Puech
Overview
- Source of Wealth
- Hermes
- Industry
- Fashion & Retail
- Residence
- Martigny
Assets
- Hermes International S.C.A.6,038,000 shares @ --RMS-FR
Biography
Nicolas Puech is a fifth-generation descendant of Thierry Hermes, who founded one of Paris' most famous luxury fashion brands.
He resigned from Hermes' supervisory board in August 2014 but still owns just under 5% of the company; other family members together hold a majority stake.
In September 2014, Hermes and luxury giant LVMH reached an agreement to distribute LVMH's 23% stake in Hermes to its shareholders.
The agreement settled a four-year dispute launched when LVMH accumulated the stock without its rival's knowledge.
It prompted speculation that LVMH CEO Bernard Arnault was planning a takeover.
About
Hermes started as a saddle manufacturer.
The company now generates about $10 billion in revenue through products including $20,000 Birkin bags, named after the British actress-singer, Jane Birkin.
He announced in 2023 that he intends to alter his will to leave the fortune to his former gardener and longtime handyman.