A family office, new yet promising, backed by one of Europe’s wealthiest clans is preparing to diversify beyond their luxury empire, Hermès International SCA.
Krefeld, named after the German town where ancestor Thierry Hermes was born, has established Breithorn Holding. This new company aims to manage funds and assets, as stated in a recent filing. Charles-Henri Chaliac, age 49, who leads the family office, will also step in as CEO for the new venture.
This shift reflects the growing ambitions of a family office that emerged in 2022 when descendants pooled their investment resources after a failed takeover attempt by LVMH founder Bernard Arnault in 2010. This dramatic backdrop has shaped Krefeld into a discreet entity, carefully managing operations, strategies, and investments.
While Krefeld has kept a low profile, it has made some notable investments, including an initial foray into a French insurer, Albingia. Additionally, the family office acquired a minority stake in Anjac Health & Beauty alongside KKR & Co., as reported by Les Echos. So far, Hermès has not responded to inquiries regarding Krefeld’s activities.
The more than 100 heirs of the Hermès fortune boast a collective net worth of $186 billion, according to the Bloomberg Billionaires Index, making them the wealthiest family in Europe. With approximately 67% ownership in the publicly traded company, they have amassed €5.1 billion ($5.9 billion) in dividends over the past four record years, giving Krefeld a robust investment capacity.
In establishing Krefeld, the Hermès descendants now stand alongside other prominent French families with their own family offices. This includes Francoise Bettencourt Meyers, the billionaire heiress of L’Oreal with her firm Tethys; the Wertheimer brothers of Chanel with Mousse Partners; and Arnault, who invests through Agache among various entities.
Limited public information is available on Krefeld and its new subsidiary, Breithorn, but both are headquartered at the same location in central Paris.
Krefeld has increased its maximum authorized capital to €1 billion, with stipulations that shareholders must be descendants of Emile Maurice Hermes, who expanded the family harness workshop initiated in 1837 by Thierry into luxury leather goods and luggage. Today, Hermès is synonymous with high-end fashion, known for its coveted handbags, silk scarves, and more, boasting €15 billion in sales last year.
Krefeld, tasked with managing the personal wealth of its Hermès affiliates, is led by Matthieu Dumas, with a board comprising heirs bearing names like Bauer, de Seynes, Guerrand, and Mommeja. Chaliac joined the team last year from Belgian private equity firm Cobepa, and Claire Zeng transitioned to Krefeld in 2024 from Morgan Stanley, as shared on her LinkedIn profile.
