Hermès heir demands LVMH return €14bn in shares
Nicolas Puech is suing conglomerate LVMH and Bernard Arnault, seeking the return of roughly €14 billion worth of Hermès shares that, he says, were sold without his consent.
By Tetiana Suchkova-Ladik
December 3, 2025 · 1 min read
Nicolas Puech, a fifth‑generation heir of the family that owns Hermès, has filed a lawsuit against the LVMH group and its head, Bernard Arnault. He is seeking the return of blocks of Hermès shares worth roughly €14 billion in total, which, Puech claims, were disposed of without his knowledge.
Lawsuit against LVMH
Puech asserts that his former asset manager, Éric Frémont, sold about six million Hermès securities to Arnault amid the latter’s bid to increase his influence in the company. The civil suit, directed at Frémont, LVMH and Arnault himself, was filed in May.
The case is being treated as a new episode in a long 15‑year dispute that began after Arnault’s covert acquisition of a stake in Hermès. At that time the family heirs managed to avert an unwanted takeover, but the status of the stake that belonged to Puech remained unresolved.
Criminal investigation
Concurrently, Puech has launched a criminal investigation: he contacted the police to identify those responsible for the loss of his assets and requested that the civil proceedings be temporarily suspended until the inquiry is concluded. Judges may question Bernard Arnault as part of the criminal case.
