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Nicolas Puech, a direct descendant of legendary former Hermes leader Emile-Maurice Hermes and part owner of Hermes International, is officially a billionaire.
FORBES: New French Luxury Goods Billionaire Unveiled
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He has owned over 5% of Hermes International since 1996, though the exact number of shares he owned had not been disclosed until earlier this year.
FORBES: New French Luxury Goods Billionaire Unveiled
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By happenstance, just two weeks later, French fashion magnate Bernard Arnault disclosed that his company, LVMH Moet Hennessy Louis Vuitton, acquired a 17 percent stake in Hermes International.
FORBES: The Stealth Bombers: Bill Ackman, Bernard Arnault, and the Conundrums of Secret Positions
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French luxury-goods company Hermes International bucked the trend, adding 2.3% after posting a 41% rise in net profit for 2011 and saying it will continue to invest in its production and distribution network over 2012.
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