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"Luxury companies need to keep control of the scarcity of their products, links of london charms if there are too many products on offer it affects their pricing power," Salat-Baroux points out. "But most of them have a good strategy," she says. This is a reason Links of London A Charm there is much expectation that mergers and acquisitions could take place. Adding brands to a portfolio looks like a winning strategy to achieve growth when putting machines to work at full throttle is not a wise move. But the recent episode involving the purchase of a stake at Hermes by LVMH shows that this is not an easy feat to accomplish. After Links of London Allsorts 1 row bracelet surprisingly increased its stake in its French rival to about 20% of the capital, the family that controls Hermes acted to create an extra layer of protection to an already tight ownership structure that aims to prevent any takeover attempts. Some small and mid-sized companies could benefit from being part of a larger group. Often the major obstacle to their development Links of London B Charm the difficulty in reaching new markets. The behemoths can offer them worldwide distribution networks, especially in the new frontiers of growth. "A company cannot have a single strategy for different markets like China and Russia," says Phan. "Distribution networks are different, consumer habits are different." So enjoying some well-tested expertise could be a bonus for smaller firms. But many independent luxury makers have been owned by families for generations, and their tradition of autonomy is fiercely defended.