PARIS—French wines, spirits and luxury goods group LVMH Moët Hennessy Louis Vuitton SA said Tuesday it has built up its shareholding in French luxury-goods company Hermès International SA to more than 20%.
The company released a statement saying that it "has crossed the threshold of 20% of Hermès International and today holds 21, 338, 675 shares."
The family that controls Hermès was taken by surprise when LVMH in October said it owned 17.1% of the fashion house.
Earlier this month, members of the family said they plan to create a holding company that will harbor more than 50% of Hermès, in an effort to fend off advances by LVMH. The holding company would have the first right to purchase any of the remaining family-owned shares, according to the plans.
