Corporation Founder Takes On Expanded Strategic Role, Developing New Territories And Working with Marketing Team; Eric Schmitt Retains Title as Chief Executive Officer

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Paris, France (AHN) – Is this the start of a battle between two of France’s luxury goods companies? Hermes reportedly rejected an “attack” on its capital from Louis-Vuitton Moet Hennessy (LVMH).

LVMH, the French holding company and the world’s largest luxury goods group that owns more than 50 global brands, including Christian Dior perfumes, Givenchy fashion and TAG Hauer watches, now owns a bit of stake in Hermes. Hermes is a French fashion house that has branched into perfume and luxury goods.

Bernard Arnault, head of LVMH, announced he had bought 17 percent of his rival Hermes. However, he insisted that he is not trying for a hostile takeover. Instead, according to Le Figar, Arnault is calling himself a “friendly” long-term shareholder.

It’s unclear which – his stake in the company or the term “friendly long-term shareholder” – rubbed Hermes the wrong way, but it appears the company was irked.

“If you want to be friendly, Mr. Arnault, you should withdraw,” Hermes executives Bertrand Puech and Patrick Thomas reportedly told French daily newspaper Le Figaro. Puech is a fifth-generation heir of Hermes’ founder Emile Hermes, while Thomas is the family owned firm’s manager. The pair alleged Arnault’s tactics in taking the stake were questionable and said they hoped the financial services watchdog would investigate.

“This entry has nothing friendly about it. It was neither wanted nor asked for,” said Thomas, as Puech complained that he had had barely one hours notice from Arnault before LVMH released a statement confirming its purchase.

But, both executives, while clearly angry, said that Arnault’s move would not change the culture at Hermes. In addition, Arnault has not asked for a seat on the board.

“We’re artisans; our goal is to make the best products in the world,” Puech told Le Figaro. “We’re not in luxury, we’re in quality.”

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If a business already has most of the funds it needs for restaurant expansion, but still needs additional financing, it may turn to factoring. Factoring allows a business to sell its accounts receivables at a discount to another company, called a factor. Factors require businesses to process credit card orders. Factoring is not considered a loan, and, depending on the factor, a business can obtain hundreds of thousands of dollars within a week’s time.

Another way to find restaurant expansion financing is to obtain a construction loan from a lending institution or construction company. Lenders usually require personal and business financial documents to assess the risk posed by a business. The higher the risk, the less likely a business will obtain the loan it needs. Construction companies may also offer financing that only requires a down payment and collateral to secure the loan. These companies generally provide better loan terms and interest rates than traditional lenders. One benefit of construction company financing is no payments until the construction is completed. Like with any financing option, the loan amounts, interest rates, and repayment plans vary by lender and by the applicant’s financial history.

Find restaurant financing generally refers to a potential business owner looking for funding sources for a new restaurant business. Once an individual has an idea of what kind of restaurant he or she wants to buy, funding that purchase is the next step. Restaurant financing is not much different from other business financing. Start-up business owners usually have some difficulty securing funds from traditional lenders, such as banks. Therefore, they look to other financial resources, including the Small Business Administration (SBA), private investors, non-traditional lenders, and many others.

The SBA’s 7(a) loan is available to small business owners who have been denied traditional loans and who have proof of ability to repay the loan. The SBA generally defines a small business as employing fewer than one hundred employees, and their loan funding is available for most business purposes, including restaurant financing.

Another way to find restaurant financing is to consult a private investor. In exchange for large sums of funding, private investors usually ask for a certain percentage of the business’s profits or to have a voice in business decisions. It’s important for business owners to find investors who provide equity, not debt. Debt means that the owner would have to pay interest on all or part of the amount invested.

Business owners may also look to financing from the restaurant’s current owner in order to find restaurant financing. When a seller is willing to finance a restaurant purchase, it shows that he or she is confident in the profitability of the business.

Author: Brynn Harveys
Article Source: EzineArticles.com
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