Exclusive-LVMH signed a secret 2002 pact to buy Hermès heir’s shares. Now he says his fortune is missing
In a 2002 agreement, LVMH signed a secret deal with the financial advisor of Hermès heir Nicolas Puech to acquire his shares in the luxury company. However, Puech now claims his 6% stake in Hermès, recently valued at $10 billion, has gone missing. LVMH and its chairman's holding company allegedly paid Freymond's firm at least $20 million in commissions between 2001 and 2009 for helping LVMH secretly build a significant stake in Hermès.
The revelation of the 2002 agreement and Freymond's payments raise questions about LVMH's past intentions to purchase Puech's shares and the circumstances surrounding the disappearance of the heir's fortune.
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