LVMH Books $3.5 Billion Gain After Distributing Hermès Stock

French multinational luxury goods conglomerate LVMH recently distributed its 23 percent stake in Hermés to investors, netting a grandiose $3.5 billion USD in the process. Already the largest high fashion and luxury conglomerate in the world with brands such as Dom Pérignon, Celine, Dior, Givenchy, Louis Vuitton, Hublot and Sephora under its control, LVMH continues to cash in as Chairman Bernard Arnault, France’s richest man, distributes shares of the iconic Birkin bagmaker while still maintaining an 8.5 percent interest in Hermes. Considering LVMH’s substantial foothold in the luxury goods market, one can only guess as to what the company’s next move may be. Head over to LVMH’s online site for more.