Hermes in ‘League of Their Own' as Family Gets $5 Billion Payout
By and Angelina Rascouet
Save
The French family behind Hermes International SCA is on track to pocket more than $5 billion in dividends for a series of four record-breaking years, when the maker of pricey leather handbags and silk scarves rode an industry boom and is now defying a slump.
Some 100 heirs to the luxury fortune, who control just over two thirds of Hermes shares, have benefited from rapidly rising payouts including this year's biggest ever. The company reported a jump in fourth-quarter revenue while rivals LVMH Moët Hennessy Louis Vuitton SE and Gucci-owner Kering SA recorded declines.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
13 minutes ago
- Yahoo
Aldi's 8 Biggest Scandals Of All Time
Despite winning over consumers all over the world with its affordable products and hidden gem snacks, Aldi has made some not-so-popular choices, like its infamously controversial grocery cart system, and the company is also no stranger to scandal. Whether you're a loyal shopper or just here for the tea, you may want to check out the wild reasons Aldi has made headlines that have nothing to do with its deals and low prices. The company has faced a number of lawsuits, ranging from wage disputes with former employees to food safety concerns for undisclosed ingredients in its products; in 2023, it found itself in the middle of a $10 million class action lawsuit for mislabeling its products. Not to mention, it found itself at the center of a drug smuggling operation more than once. Who knew a grocery store that boasts such a scaled-back shopping experience could be involved in so much drama? From contaminated food to exploding turkey burgers, here are some of the most fascinating scandals that Aldi has been involved in over the years. Read more: 11 Foods You Might Want To Avoid Buying At Aldi One of Aldi's most viral scandals occurred in early 2013 when it was revealed that some of its beef products actually contained undisclosed horse meat. The grocer discovered as much as 100% horse meat in some of its frozen beef products during routine random testing. The impacted products were frozen lasagna and frozen spaghetti bolognese from the brand Today's Special, and the company quickly pulled them from the shelves as a food safety precaution. Aldi traced the supply chain and connected the contamination issue to French supplier Comigel, a large French food processing company that also supplied contaminated beef products to other popular brands like Findus. The horse meat products were delivered to grocery stores in France, Britain, and Sweden. A spokesperson for Aldi explained that they were equally as disappointed in the contamination from the French supplier as their consumers. Unfortunately, it was unclear whether the "meat mixup" was purposeful or negligent on the part of the supplier. In 2019, Aldi faced another shocking food scandal when hundreds of kilograms of cocaine were found hidden in banana crates delivered to 6 Aldi store locations in Germany, as well as a warehouse. Aldi employees discovered the haul and notified local officials, who separated and secured the crates for a full investigation. State police indicated that the stash was likely from Latin America and amounted to a value of about $28 million, making it potentially the largest haul of cocaine ever found in northern Germany. However, this was not the first time, or even the second time that cocaine had been smuggled into Aldi grocery stores. There were actually two other incidents in which millions of dollars worth of drugs had been stashed in fruit and other products. In one case in 2015, about $12.5 million worth of cocaine was found in banana crates that had been shipped to Berlin as well. Police speculated that these shipments arrived at Aldi grocery stores by mistake. In 2019, the discount grocery store was accused of not paying California employees their earned wages. Former Aldi grocery store employees Jeree Gant and Jennifer Lacey-Salas each filed a class action lawsuit against the company, alleging that they (along with other employees) were not granted full payment for all the hours they worked during their employment. Specifically, the company did not pay the employees overtime or compensate for business-related expenses, despite them having been earned. The California class action suit also alleged that the company broke several other laws based on the California labor code, including not giving sufficient meal and rest breaks. Jeree Gant and Jennifer Lacey-Salas filed the suits on behalf of more than 2,000 Aldi employees who worked across various California store locations. Aldi quickly offered a $2 million settlement in response to the lawsuit. In a tragic incident just before Christmas in 2017, an Aldi employee was fatally stabbed in a revenge act during her shift at the grocery store. 30-year-old Jodie Willsher was stabbed by 44-year-old Neville John Hord in front of shoppers and fellow employees at the Aldi store where she worked in the U.K.'s North Yorkshire Hord was a former boyfriend of Willsher's mother, and the murder was an act of revenge, according to prosecutor Peter Moulston QC. Hord was detained by a few shoppers and employees, and was arrested and later sentenced to a minimum of 30 years in prison for the gruesome act. Police later discovered that Hord had placed a GPS tracking device on Willsher's car as well. Willsher's husband, 4-year-old daughter, colleagues, and the small town of Skipton were left horrified by the public act of violence. According to the manager of the Aldi store, Willsher was a well-liked and popular employee, and her friends and colleagues were devastated by the tragic event. Aldi landed in hot water again when it was accused of spying on employees and customers. A former store detective claimed that he was instructed by his branch manager to install hidden cameras and gather information on employees, including their private financial information. The cameras were installed without the staff's knowledge, leading to further suspicion of bad intent. Some cameras even focused on the cash registers, where card readers with customer's credit card information were displayed. Aldi denied the claims that it was attempting to spy on employees, insisting that any cameras in the store are used strictly to protect customers and staff. It also insisted that no customer PIN numbers or credit card information could be seen from the positioning of the cameras. However, Peter Schaar, the German commissioner for privacy protection, explained that if it is possible for thefts to be prevented in other ways, surveillance may not be used. In addition to its impressive supply of groceries, Aldi also sells home goods and kitchen appliances. One product that was particularly popular in Australia was the Spiral Spring Mixer Tap. Aldi came under fire when the Queensland Building and Construction Commission (QBCC) performed tests on the water from these kitchen faucets and found unsafe levels of lead. Prolonged exposure to lead can lead to an array of health issues, including high blood pressure, heart disease, and kidney damage. Aldi removed the product so the company could perform a thorough internal investigation, though the spiral tap had already been sold to an estimated 12,000 homes. Aldi's personal testing revealed that the water levels were well within the acceptable range provided by the Australian Drinking Water Guidelines and the taps were in fact safe for use. Aldi Australia's CEO Tom Daunt explained that the tests completed by the QBCC were not conducted appropriately and Aldi's internal investigation confirmed that the product was perfectly safe for use. Gloria Besley filed a lawsuit against the grocery store in August 2018 after a turkey burger she purchased from her local Aldi exploded and left her with extensive injuries. According to Besley, she cooked the frozen turkey burgers per the "fry" instructions on the box: Preheat the skillet on medium heat, add a small amount of vegetable oil, and cook burgers on each side for 7 to 9 minutes. After placing the burgers in the oil as instructed, one exploded leaving her with second-degree burns on her hands and forearms, as well as permanent scarring. The Pennsylvania woman sought $35,000 in damages from the grocery store due to the burn injuries she endured. She filed the suit in Allegheny County in January 2019 and the case was settled about a year later, although the settlement information was not shared publicly. UC Davis researchers launched an investigation into private-label avocado oils from 19 retailers, including Aldi, and found that about 70% of them that were labeled as "pure" actually contained additional oils and additives. The study landed Aldi in trouble with consumers who were none too happy to discover that the healthier oil alternative they were purchasing was not, in fact, as healthy as advertised. The product in question was the Aldi brand Simply Nature product, which was advertised as being 100% pure avocado oil. Maggie Frost, on behalf of herself and other misled consumers, filed a class action lawsuit against the company for the misrepresentation of the ingredients in the Simply Nature Avocado Oil. While other Simply Nature products, like its veggie-packed broccoli bites, are a hit with customers, the science suggests you might want to skip Aldi's olive oil. Hungry for more? Sign up for the free Daily Meal newsletter for delicious recipes, cooking tips, kitchen hacks, and more, delivered straight to your inbox. Read the original article on The Daily Meal.
Yahoo
an hour ago
- Yahoo
EXEL Industries: Total number of voting rights and shares at 05.31.2025
EXEL IndustriesA French with a share capital of €16,969,750Registered office: 54, rue Marcel Paul - 51206 Epernay Cedex - FranceReims Companies Register (RCS): No. 095 550 356 Number of shares and voting rightsArticle 223-16 of the AMF regulation Date Total number of shares comprising the share capital Total number of voting rights May 31, 2025 6,787,900 Theoretical voting rights: 9,891,627 Exercisable voting rights*: 9,886,797 * After deduction of shares without voting rights Attachment EXEL Industries Droits de vote 2025.05.31_ENError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
The Blockchain Group Starts 300M-Euro ATM Share Sale to Expand Bitcoin Holdings
The Blockchain Group (ALTBG), a tech firm that brands itself as Europe's first Bitcoin Treasury Company, announced a share-issuance program worth up to 300 million euros ($342.5 million). The capital raise is structured as an at the market (ATM) program and backed by French asset manager TOBAM, a longtime investor in both bitcoin BTC and the Paris-listed company on behalf of clients, Blockchain Group said in a press release. The program allows TOBAM to buy new shares at its discretion, based on daily market conditions. The price of each tranche will be the higher of the previous day's closing price or its volume-weighted average price, with purchase volume capped at 21% of the day's trading activity, the firm said. Proceeds are expected to be used to purchase bitcoin, furthering the company's stated goal of increasing its 'bitcoins per share' metric over time. The Blockchain Group started buying bitcoin in November. Since then, it has amassed 1,471 BTC at an average price of $102,507, it said June 3. Unlike typical ATM programs in the U.S., which use brokers to sell stock into the market, TOBAM is acting in its own interest, not as an intermediary. It will decide whether to hold or sell the newly issued shares on its own criteria and won't be compensated by the company for participating. If fully executed at recent market prices, TOBAM's stake in the company could rise from 3% to over 39%. A shareholder vote scheduled for June 10 could expand the capital raise to 500 million euros. Shares in the company, which has a market cap of 543 million euros, have risen 20% today to 4.9 euros. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
