Luxury goods firms Hermes and LVMH have reached a settlement over their so-called “handbag war” which involved LVMH building a stake in it’s rival.

The dispute dates back to 2010 when Hermes accused LMVH of not properly disclosing its stakebuilding after the Dior and Givenchy firm gained 17% of the company, rising to 23.2% recently. Most of which it has agreed to relinquish as part of the deal.