Hermès Believes Heir No Longer Holds Stock Worth €14 Billion (2)

The enigma surrounding Hermès shares worth about €14 billion ($16.2 billion) inherited by a member of the luxury goods company’s controlling family is finally seeing some glimmers of light.

Hermès International SCAbelieves the family member, Nicolas Puech, hasn’t had the shares in the Birkin bag maker for a while, Executive Chairman Axel Dumas said Wednesday, adding that he doesn’t think the holding can ever be recovered.

“I’ve had the certainty for a long time that Nicolas Puech no longer holds his shares,” Dumas told reporters on an earnings call in his most elaborate public comments on the ...