Acquired
Hermès
Unnamed Speaker
he had this Russian doll structure where he owned a slim majority of an entity that owned a slim majority of an entity that owned a slim majority. And so he was able to generate a bunch of liquid cash from all the minority shares that he sold off, but he still got to control Dior, LVMH, Group R, R&O, because he was technically the majority owner of each of them.
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