Hermès

7693.3 - 7722.478 David Rosenthal

Right. So in 1993, Jean-Louis lists Hermes on the Paris Stock Exchange. Collectively, when the dust settles, the family has sold 19% of Hermes to the public. They still own 81%. Now, the public float grows a little bit over the years as more family members sell, more generational transfer happens. But, you know, more or less still, you know, 70% plus family owned and controlled.