Internationally recognised art and literary critic, writer and cultural producer. Published in ELLE, Glamour, Esquire and Cosmopolitan; member of the Union of Writers.
Hermès is one of the most iconic and prestigious luxury brands in the world. Founded in 1837 by Thierry Hermès, a harness maker, the company has evolved into a global powerhouse of fashion, leather goods, perfumes, jewelry, and more. Its products, such as the Birkin bag, the Kelly bag, the silk scarf, and the Apple Watch Hermès, are coveted by celebrities, royals, and collectors alike. Its annual revenue exceeds 6 billion euros, and its market capitalization is over 80 billion euros.
But behind the scenes of this glamorous empire lies a complex and fascinating family drama. Hermès is still owned and controlled by the descendants of Thierry Hermès, who form one of the richest and most influential family clans in the world. The clan consists of six branches, with more than 70 members, who collectively own about 65% of the company’s shares. The family has a strong sense of unity and loyalty, and has successfully defended its independence and values from external threats, such as the attempted takeover by rival LVMH in 2010.
However, the family harmony is not without cracks. Recently, one of the family members, Nicolas Puech, has stirred up a controversy that has divided the clan and challenged its traditions. Puech, who is 80 years old and the oldest living descendant of Thierry Hermès, has announced his intention to adopt his former gardener, a 51-year-old Moroccan named Rachid, and leave him at least half of his fortune. Puech, who owns about 6% of the company’s shares, worth about 5 billion euros, claims that he considers Rachid as his son, and that he wants to reward his loyalty and friendship. He also says that he is disappointed by his biological children, who have shown little interest in the family business.
The rest of the family, however, is outraged by Puech’s plan. They accuse him of betraying the family legacy and endangering the stability and continuity of the company. They argue that Puech is acting out of spite and resentment, and that he is trying to manipulate the family governance and the shareholding structure. They also question the legitimacy and sincerity of his adoption, and suspect that Rachid is a gold digger who is taking advantage of Puech’s old age and loneliness. They have launched a legal battle to stop Puech’s adoption, and to prevent him from transferring his shares to Rachid or anyone else outside the family.
The case, which is pending in a Paris court, has attracted a lot of media attention and public interest. It has also exposed the tensions and contradictions within the Hermès family, and the challenges and opportunities that it faces in the 21st century. How will the family resolve its internal conflict, and preserve its cohesion and identity? How will the company adapt to the changing consumer preferences and market conditions, and maintain its excellence and innovation? How will the family balance its heritage and its future, and ensure the sustainability and growth of its business empire?
