PRESS RELEASE
LVMH and Hermès mend relations

Paris, September 3rd 2014

The President of the Commercial Court of Paris, Mr. Franck Gentin, proposed to LVMH and Hermès a
conciliation in order to bring to an end the conflicts between the two groups and restore a climate of
positive relations between them.

The two parties having reacted favorably to this proposal, signed an agreement under which the
LVMH Group will distribute all its Hermès shares to its shareholders, on the understanding that
LVMH’s largest shareholder, Christian Dior will in turn distribute the Hermès shares it receives to its
own shareholders. LVMH, Dior and Groupe Arnault have undertaken not to acquire any shares in
Hermès for the next five years. The distribution of Hermès shares, approved by the boards of LVMH
and Dior, will be completed no later than 20th December 2014. Following this distribution, Groupe
Arnault will hold around 8.5% of the capital of Hermès International.

By virtue of the agreement reached today, LVMH and Hermès have brought to an end the conflict, and
all related actions, between them.

Mr. Axel Dumas and Mr. Bernard Arnault both express their satisfaction that relations between the two
groups, representatives of France’s savoir-faire, have now been restored.




LVMH
LVMH Moët Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of brands that includes Moët & Chandon, Dom
Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier, Château d’Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc,
Hennessy, Glenmorangie, Ardbeg, Wen Jun, Belvedere, 10 Cane, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape
Mentelle, Newton et Numanthia. Its Fashion and Leather Goods division includes Louis Vuitton, Céline, Loewe, Kenzo, Givenchy, Thomas
Pink, Fendi, Emilio Pucci, Donna Karan, Marc Jacobs, Berluti, Nicholas Kirkwood and Loro Piana. LVMH is present in the Perfumes and
Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Parfums Kenzo, Perfumes Loewe as well as other promising
cosmetic companies (BeneFit Cosmetics, Make Up For Ever, Acqua di Parma and Fresh). LVMH is also active in selective retailing as well
as in other activities through DFS, Sephora, Le Bon Marché, la Samaritaine and Royal Van Lent. LVMH's Watches and Jewelry division
comprises Bulgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred, Hublot and De Beers Diamond Jewellers Ltd, a joint venture created
with the world’s leading diamond group.

Contacts:
Analysts and investors: Chris Hollis + 33 1.4413.2122
LVMH

Media:
France : Michel Calzaroni/Olivier Labesse/ + 33 1.4070.1189
Sonia Fellmann/Hugues Schmitt
DGM Conseil
Steele & Holt - Sylvain Fort +33 6. 21.89.11.05
UK: Hugh Morrison + 44.773.965 5492


Italy: Michele Calcaterra/Mateo Steinbach +39 02.8905.5101
Carlo Bruno&Associati

US: James Fingeroth/Molly Morse/ +1 212.521.4800
Anntal Silver
Kekst & Company