[转帖] [2013.07.06] LVMH and Hermès: Hidden predators 路威酩轩vs.爱马仕

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[table=98%][tr][td]本帖最后由 babyhippox 于 2013-7-9 16:03 编辑
http://www.ecocn.org/forum.php?mod=viewthread&tid=193477&extra=page%3D1
LVMH and Hermès
路威酩轩与爱马仕的较量
Hidden predators
隐形的捕食者

Most countries no longer let firms build up unseen stakes
多数国家不再放任公司秘密增持股份

Jul 6th 2013 | PARIS |From the print edition



1 A SWOOP was always a possibility. LVMH, maker of Louis Vuitton bags, Moët et Chandon champagne and much more, is the world leader in luxury goods and known for swallowing smaller firms. Hermès provides the cognoscenti with leather goods, silk scarves and ties, and is just such a smaller firm.

在商业社会，弱肉强食时刻可能发生。作为路易威登手袋、酩悦香槟等众多知名品牌的缔造者，酩悦•轩尼诗－路易•威登集团（LVMH,以下简称“路威酩轩集团”或“路威酩轩”）除了在奢侈品行业处于国际领军地位外，还因吞并较小的竞争对手而出名。这一次，路威酩轩将眼光瞄准了为高品位客户提供皮具、丝巾和领带的爱马仕(Hermès)公司。

2 But it was nonetheless a shock when, on October 27th 2010, LVMH announced that it owned 17.1% of Hermès’s shares, even though market rules usually require notification when a stake as small as 5% is acquired. Hermès cried foul. Courts and regulators responded; and on July 1st the sanctions committee of the Autorité des Marchés Financiers (AMF), the market regulator, imposed an