The richest man in Europe -- CEO of LVMH, owner of Louis Vuitton and Christian Dior -- has ignited a debate in Socialist-governed France about patriotism and policy by applying for dual citizenship in Belgium.
French fashion house Hermes is refusing to be bagged by Louis Vuitton Moet Hennessy. On Thursday, a French court of appeals confirmed a January decision that will allow the descendants of Thierry Hermes to form a holding company to keep a majority of shares in family hands.
The Japanese are the world's most voracious consumers of luxury goods, from Louis Vuitton handbags to Cartier jewelry to Hermes high fashion. So purveyors of those luxury goods are justifiably worried about the effect of the Japanese quake and tsunami on their bottom lines.
