LVMH Balances Creative Reshuffle and Zenith Restructuring Against Hermès Inquiry
Published on 11/06/2026 at 15:12 | Editorial boerse-global.de
LVMH's share price slipped 1.2% yesterday, though no link has been established between that move and the latest press coverage of a French judicial investigation into the group's historic build-up of a stake in Hermès.
At the centre of that inquiry sits Jean-Jacques Guiony, a member of LVMH's executive committee. Le Monde reported on 30 October that French investigators questioned him about the group's past purchases of Hermès shares. An earlier report from the same newspaper, dated 29 October, had covered his appearance as a witness in the legal investigation surrounding the Hermès share dispute. That coverage raised questions about LVMH's role but stopped short of alleging any wrongdoing. LVMH has said it will not comment on proceedings that are still underway.
Separately, the luxury conglomerate filed its routine monthly disclosure on share capital and voting rights. As of 31 October, LVMH counted 494,606,080 outstanding shares, 743,358,184 gross voting rights and 739,382,278 net voting rights. The mandatory notice also set out transactions in the company's own stock, which LVMH reported to the French financial markets authority, the AMF; an earlier release covering buyback activity had likewise been submitted to the regulator.
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New Creative Leadership at Louis Vuitton
On the personnel front, Hector Muelas has been named Chief Brand Creative Officer at Louis Vuitton, according to media reports. The appointment was announced on 23 October and took effect on Sunday, 1 November.
Changes are also afoot at Zenith, the group's watchmaking brand. Roughly two weeks ago, Reuters reported that a consultation process had begun with staff over a proposed repositioning toward higher-priced timepieces. Up to 100 roles at the Le Locle site and around 100 international positions could be at risk, though no final headcount for redundancies has been confirmed. No actual job cuts have been reported; Reuters framed the possible layoffs as part of the consultation process now under way.
Zenith chief executive Benoit de Clerck has described a three-year overhaul that would include store closures through 2029, with the bulk of existing collections set to be discontinued, according to media reports. The brand has pointed to sustained financial losses as the reason for the restructuring.
Paris Boutiques Damaged in Protests
Roughly three weeks ago, protests in Paris left two LVMH-owned stores damaged. According to Le Monde, the windows of the Louis Vuitton boutique were smashed, while the Celine branch was looted — two brands whose Paris locations were the subject of the report.
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