Nicolas Puech Net Worth

Nicolas Puech was born on 1943 in Martigny, Switzerland, France. Nicolas Puech is a fifth-generation descendant of Émile-Maurice Hermès who founded one of Paris's most famous luxury fashion exports. Hermès started as a saddle manufacturer and now generates more than $5 billion in revenue through products including $400 printed silk scarves and $20,000 Birkin bags, named after the British actress-singer, Jane Birkin. Puech owns just under 6% of Hermès; he resigned from the company's supervisory board in August 2014. That September, Hermès and fellow fashion billionaire Bernard Arnault's LVMH group reached an agreement to distribute LVMH's 23% stake in the luxury goods company to its shareholders, settling a four-year dispute launched when LVMH accumulated the stock without its rival's knowledge, prompting speculation that Arnault was planning a takeover. As part of the settlement, Arnault and his companies have committed not to buy any more shares in Hermès over the next five years. The Arnault family group still maintains an 8.5% stake in Hermès, though members of the Hermes family, now in its sixth generation, continue to hold a majority stake. The clan reportedly agreed not to sell their shares for 20 years.
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