Hermès family office creates new firm to expand investment horizons beyond luxury core.

A three-year-old family office associated with Europe’s wealthiest clan is taking steps to broaden its investment horizons beyond its luxury core, Hermès International SCA. Krefeld, named after the German birthplace of Hermès founder Thierry Hermès, recently created Breithorn Holding, a separate company designed to manage fund and asset management activities. The move signals a strategic expansion for the family office, which currently manages the personal wealth of the Hermès heirs. Charles-Henri Chaliac, 49, who currently heads Krefeld, will also assume the role of chief executive officer at the new firm, Breithorn Holding.

The establishment of Krefeld in 2022 was a direct response to a significant challenge faced by the Hermès dynasty. Following a 2010 takeover attempt by rival luxury giant LVMH, founded by Bernard Arnault, the various branches of the sprawling family consolidated their separate investment vehicles into Krefeld. Consistent with the clan’s reputation for discretion, Krefeld has operated with high levels of secrecy regarding its strategies, management, and operations since its inception.

Krefeld's investment potential is substantial, supported by the immense wealth of its backers. The Hermès heirs, numbering more than 100, possess a combined net worth of $186 billion, solidifying their status as Europe's richest family according to the Bloomberg Billionaires Index. With a stake of approximately 67% in the listed company, the family has received €5.1 billion ($5.9 billion) in dividends over the past four years, providing significant capital for Krefeld's investment initiatives. Krefeld has also recently increased its maximum authorized capital to €1 billion, further enhancing its financial firepower.

While Krefeld maintains a low public profile, it has made a few select investments since its formation. Among its early announcements was an investment in the French insurer Albingia. The family office also acquired a minority stake in Anjac Health & Beauty, collaborating with investment firm KKR & Co., according to reports from Les Echos. By forming Krefeld, the Hermès descendants have joined other ultra-wealthy French clans, such as the Bettencourt Meyers family (L’Oréal heiress Francoise Bettencourt Meyers) with Tethys, the Wertheimer brothers (Chanel) with Mousse Partners, and Bernard Arnault, who manages investments through various vehicles including Agache.

Krefeld's structure ensures its operations remain exclusive to the family. Its statutes stipulate that shareholders must be direct descendants of Emile Maurice Hermès, who expanded the Parisian harness workshop founded by his grandfather Thierry Hermès in 1837 into a comprehensive luxury brand specializing in leather goods, baggage, and fashion. Today, Hermès is best known for its high-end handbags and accessories, reporting €15 billion in sales last year. Krefeld is chaired by Matthieu Dumas, and its board includes heirs with surnames such as Bauer, de Seynes, Guerrand, and Mommeja. The firm has also recently bolstered its leadership with key hires, including Charles-Henri Chaliac, who joined from Belgian private equity firm Cobepa last year, and Claire Zeng, who moved from Morgan Stanley in 2024.