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Hermès set to be back under family reins

Hermès has announced that Axel Dumas will become the next chief executive of the French luxury goods group, returning the company to family control.

Dumas, currently chief operating officer, will become co-chief executive with Patrick Thomas next June before Thomas retires at the end of next year.

Dumas joined the company in 1993 and has held roles including commercial director for France and head of the leather goods division. He is a nephew of the head of Hermès, Jean-Louis Dumas.

Thomas said: “I am delighted with the prospect of seeing a member of the Hermes family success me.”

Over the last couple of years there has been a long running dispute between Hermès and LVMH, the luxury goods group behind Louis Vuitton and Marc Jacob, as LVMH snapped up shares in Hermès. At the end of last year Hermès won a major victory over LVMH after a French appeals court crushed the luxury giant’s chances for a takeover.

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