Away from the spotlight, the Hermès family’s family office continues to build out its structure. Founded in 2022 by several branches of the dynasty, Krefeld has just established a separate entity, Breithorn Holding, dedicated to fund and asset management.
Led by Charles-Henri Chaliac, who also heads Krefeld, this new structure confirms the family office’s growing ambitions while remaining true to a culture of discretion. Both entities are based in Paris and operate within a deliberately closed governance framework, reserved for the descendants of Émile-Maurice Hermès. Breithorn notably allows for a clearer separation of management, ownership, and oversight activities—a practice increasingly common among major European family offices.
Created in the wake of Bernard Arnault’s attempted takeover of Hermès in 2010, Krefeld reflects the heirs’ desire to better coordinate and protect their assets outside the parent company. This restructuring also reflects a desire for greater professionalization, with executives drawn from private equity and investment banking.
Backed by a family fortune estimated at nearly €160 billion and a stake of approximately 67% in Hermès International, the heirs have significant investment capacity, bolstered by more than €5 billion in dividends received in recent years—a recurring cash flow that supports a long-term investment strategy, largely unconstrained by market cycles.
To date, Krefeld has carried out few high-profile transactions, notably including investments in Albingia and Anjac Health & Beauty alongside KKR. Its authorized capital of up to €1 billion reflects a gradual and selective wealth management strategy, comparable to that of the most structured family offices, where discretion often takes precedence over the frequency of transactions.
