* Hermes says not mulling bid for Mulberry
* Is keen to focus on organic growth
(Adds background, details)
PARIS, March 6 Hermes on Wednesday
denied plans to make an offer for rival British handbag maker
Mulberry after a press report that the French luxury
group was mulling a bid.
"Hermes denies having had any contact with or planning to
acquire the company Mulberry," Hermes Deputy Managing Director
Patrick Albaladejo told Reuters.
Prior to Hermes's denial, Mulberry shares were up 8.5
percent. By 1009 GMT, the stock was flat at 1300 pence.
Mulberry had gained 6.8 percent on Tuesday and the Daily
Mail reported that "rumors were rife" that Hermes could be
lining up a 1.5 billion pound, 25 pounds per share cash bid for
But Hermes management has said several times in the past
that it is focused on growing its business organically and it is
not looking to diversify through an acquisition.
When Hermes has pursued takeovers, they have tended to
target existing suppliers or craftsmen with which it would like
in January, the company, which owns silk providers, texile
manufacturers, shoe and watch makers, bought the d'Annonay
tannery in the Rhone Valley, one of its key providers of calf
(Reporting by Astrid Wendlandt; Editing by Christian Plumb)