Chapter 915 Exchange Conditions (Another Chapter)
“I didn’t expect Mr. Arnault to be so cunning...” Xu Liang said directly.
“This old wolf is ten times more cunning and a hundred times more shameless than everyone imagined.
Mr. Xu, we should join forces to fight against him and avoid being as good as Hermès, Sina and Vivendi. The company was plundered by him.”
Bertrand Pieche, waving his arms, his eyes wide open, looked extremely angry.
He looked like he wanted to kill Bernard.
Looking at him, and then at Patrick, who said nothing and had a tense face next to him, Xu Liangang came back to his senses.
“No one should be underestimated as the soul of the Hermès Group.”
The two people had obviously discussed it before coming to him.
Bertrand Pièche is responsible for playing a red face, stoking his dissatisfaction with Bernard, and getting closer to him. It is best to make him take the initiative to promise to join forces.
As long as he agrees, everything will be easy.
You can give less benefits and get more benefits.
And Patrick Thomas is a calm white-faced person. If Bertrand fails to provoke his anger and make him take the initiative to speak out, then he will be responsible for negotiating terms.
Exchange benefits to consolidate the relationship between the two parties and then form an offensive and defensive alliance.
After realizing it, Xu Liang had a smile on his face.
Yeah yeah yeah.
But he never mentioned joining forces.
Although everyone has this intention, how to form an alliance? What are the conditions? It’s all about talking.
Seeing that he didn't take the bait, Bertrand gave the old guy next to him a look.
The latter understands.
After coughing, Xu Liang's attention was attracted.
"Mr. Xu, when I went to China on a business trip, I learned a Chinese saying called 'open the skylight and speak plainly'. Mr. Xu is from China and must understand its meaning.
So all Facing the threat of Bernard Arnault, we should use our precious time to reach an agreement that is beneficial to both of us and join hands to protect our precious assets."
Seeing that he got to the point, Xu Liang stopped. circle.
“Mr. Patrick’s words are exactly what I want to say.
Arnault's threat is real and profound, and it is a problem that both of us need to face now and in the future.
It is in the interests of both of us to unite to deal with Bernard's covetousness. "
After a pause, Xu Liang said calmly.
"The key is how to unite?
If it is just a verbal agreement, I am afraid that not only me, but even the two of you will have a hard time believing how much effect it can have.
If it is business cooperation.
Although Hermès’ business in Asia is developing rapidly, it is all sold through independent flagship stores, which is not consistent with the retail channels I control.
Of course, if Hermès wants to cooperate with No. 1 Store for online sales, I sincerely welcome Hermès on behalf of No. 1 Store. ”
Hermès entering No. 1 store and opening an official website will greatly enhance the brand value and attention of No. 1 store.
This is a matter of mutual benefit.
But now e-commerce is still in its infancy.
What is sold on the website are low-value clothes, books, CDs, etc.
If it’s broken, you won’t feel bad if you lose it.
There are also 3C products worth over a thousand dollars, but there are very few like Hermès that easily cost over a thousand dollars.
Those who can afford Hermès will basically not buy it online.
Only when e-commerce develops and online shopping becomes an indispensable retail channel will top brands like Hermès enter.
Xu Liang continued: "But if this is the case, our mutual interests are too little intertwined. I am afraid that neither of us is sure how effective this alliance can be when encountering difficulties.
So I think in addition to cooperation in business, we can also cooperate in finance."
"Finance? Pacific Fund?" Patrick asked subconsciously.
“No.
The Pacific Fund currently has no shares, so even if I wanted to give it to you two, I couldn't.
However, in addition to Pacific Fund, there are many sub-businesses under the Hanhua Group.
For example, Hanhua Trust. ”
The two looked at each other. Their main understanding of Hanhua was its world-famous private equity business.
Hedge funds mainly Pacific Fund and Indian Ocean Fund, Qinglong, Baihu, etc. A private equity fund led by Mars, a venture capital fund led by Mars
They are all giants in their respective fields.
But they have never heard that Hanhua has a trust business.
“Hanhua Trust is a new company established last year. It currently has hundreds of high-quality customers in China and manages nearly 3 billion euros in assets.
If you are interested, We can cooperate with Hanhua Trust to establish a trust investment fund belonging to the Dumas, Gueran, and Pieche families," Xu Liangdao.
Bertrand Pieche became interested.
Large families in Europe and the United States will set up family offices for family inheritance, or cooperate with well-known financial trust companies to establish family trusts.
"Is this department directly managed by Mr. Xu?"
"I am too busy and have no time to participate in management. However, I will regularly provide some options and stocks that I think have more development prospects. , to ensure the return of the trust.
At the same time, I also remind you that the primary goal of the family trust fund is to maintain and increase value, rather than pursuing high returns.
So Hanhua Trust will not allocate too much. Many high-risk assets.
If you two want to make money, I will definitely leave you enough shares when the Pacific Fund raises its third phase. "
The two looked at each other, and Patrick smiled and said: "Mr. Xu's words are very sincere, and we will consider them seriously. "Xu Liang smiled and crossed his legs.
"If it is just a cooperation between Pacific Fund and Hanhua Trust, it is still a bit too thin..."
It’s obvious that the meaning is still unfinished.
Patrick and Bertrand are not fools. Xu Liang has already used his chips, and now it is their turn.
Fortunately, they had reached an agreement before coming.
And I have already greeted the leaders of the three major families.
Now Xu Liang’s chips can satisfy them.
So.
"Mr. Xu, Hermès Group is the world's top luxury brand, bar none."
Patrick's eyes were filled with pride.
He has reason to be proud.
Now Hermès is indeed number one in the world.
Whether it is LV or Chanel, in terms of brand reputation, they are all inferior to Hermès.
"So, we sincerely invite you to join the Hermès family as a white knight."
Xu Liang was shocked and couldn't help but feel happy.
Hermes, Chanel, LV, Kering Group, Richemont Group, Armani, Estee Lauder and other world's top luxury brands are the focus of his investment.
Especially Hermès and Chanel are top priority.
Unfortunately, the family holdings behind these two major brands are too high, and the turnover rate in the secondary market is very low.
Hanhua Fund No. 4, which specializes in investing in luxury goods, has worked hard for a year and holds less than 3% of the shares of the two companies.
Even the board of directors cannot be entered.
Take a slight breath, suppressing the expectation in his heart, Xu Liang smiled.
“I wonder how much equity the Hermès Group plans to transfer?”
“1.5 billion euros, 15% of the shares, and only half of the voting rights.” Bertrand said directly.
Xu Liang nodded slightly.
Compared with LV, which has sales revenue of 13.9 billion euros, net profit of 1.668 billion euros, total assets of 28.053 billion euros, and a stock market value of 36.8 billion euros.
Although Hermès is an aristocrat in the field of luxury goods, its current market value is only about 9.2 billion euros.
Selling 15% of the shares for 1.5 billion euros may seem expensive on the surface, but in fact it is not expensive at all.
Because you simply can’t buy so much equity from the secondary market.
The purchase from the three major family members must be at a premium, and the price must be more expensive than this.
The only drawback is that these shares lack half of the voting rights.
But Xu Liang does not intend to acquire Hermès.
He doesn't care whether he has more voting rights or less.
“It is an honor for me to enter Hermès as a white knight, and I am also very happy to hand over half of the voting rights of 15% of Hermès shares to these two people.”
Hearing this, the two of them breathed a sigh of relief.
Originally they thought that Xu Liang would struggle with the right to vote, but now that it was going so smoothly, they realized that the person in front of them was not interested in Hermès.
To be precise, I have no interest in the ownership of Hermès.
That's good.
After reaching a general agreement, the two parties quickly settled on more detailed terms.
For example, the third phase of the Pacific Fund will give the three major families a share of at least 1 billion euros and no more than 2 billion euros. As for the specific amount, it depends on how much money they can come up with.
For another example, Xu Liang can assign a managing director to the Hermès board of directors to help and supervise the future development of Hermès.
Just as the two sides reached more and more consensus, Lu Hui suddenly came over and interrupted.
“Boss, the bodyguard in charge of guarding said that Mr. Bernard Arnault, CEO of LV Group, and Mr. Mouriez, CEO of Auchan Group, have arrived.”
Lv Hui did not deliberately hide it.
Berante Pieche and Patrick Thomas, who were nearby, naturally heard it too.
Looking at the questioning looks in their eyes, Xu Liang shook his head.
“I only invited two people today.”
Berante and Patrick’s expressions changed slightly, and their expressions became a little ugly.
They told the people of the three major families of Pieche, Guéran and Dumas about their meeting.
After all, in order to transfer the equity, their consent is required.
The total number of these three families exceeds fifty, and there is a mixture of good and bad among them. Although most of them hate Bernard and agree with their plan, there are definitely some who hope to sell Hermès and take the money to leave.
So it is highly likely that the news will be revealed to Bernard privately.
This can be guessed from the fact that the other party can acquire 17% of Hermès shares without knowing it.
After all, with so much equity, it is too difficult to acquire it silently from the secondary market.
The contributions of individual members of the three major families are certainly indispensable.
"No matter who disclosed the information, now that it has happened, there is no point in pursuing it anymore."
Xu Liang stood up.
"Let's go, let's go meet these two cunning and treacherous old wolves, don't let others take them lightly."
Berante and Patrick looked at each other, stood up and followed Go up.
(End of this chapter)