A discreet family office backed by the Hermès dynasty is quietly positioning itself to pursue investments beyond the luxury group that made the family one of Europe’s wealthiest.
The family office, known as Krefeld and established in 2022, has set up a new entity called Breithorn Holding, according to regulatory filings. The new structure is designed to manage funds and assets, signalling a broader investment mandate. Charles-Henri Chaliac, who leads Krefeld, has been appointed chief executive of the new holding company.
Krefeld was formed after members of the extended Hermès family consolidated their previously separate investment vehicles. This followed the family’s successful defence against a takeover attempt by LVMH in 2010, an episode that reinforced the heirs’ preference for tighter coordination and long-term control. Since its creation, the family office has operated with limited public disclosure around its strategy or governance.
Investment activity to date has been modest but selective. Krefeld has taken stakes in French insurer Albingia and in Anjac Health & Beauty, where it invested alongside KKR, according to French media reports.
Collectively, the more than 100 Hermès heirs are estimated to hold a net worth of around $186 billion, making them the richest family in Europe. The family controls roughly two-thirds of Hermès International and has received more than €5 billion in dividends over the past four years, providing substantial capital for future investments.
Krefeld joins a small group of prominent French family offices linked to major luxury fortunes, including Tethys, Mousse Partners and Agache. Both Krefeld and Breithorn are based in central Paris, although little is publicly known about how the two entities will operate together.
The family office has increased its authorised capital ceiling to €1 billion. Its governance documents restrict ownership to descendants of Émile-Maurice Hermès, who transformed the company from a 19th-century harness workshop into a global luxury house. Today, Hermès is best known for its handbags, silk scarves and fashion, and reported annual revenue of €15 billion last year.
Krefeld is chaired by Matthieu Dumas, with board representation drawn from several branches of the Hermès family. Chaliac joined from Belgian private equity firm Cobepa, while senior hires have also come from Morgan Stanley, reflecting a gradual professionalisation of the family’s investment platform.
