In Asia beyond Japan, sales rose by 29 percent, helped by the opening of six new outlets, including one in Mumbai. U.S. sales climbed 26 percent, while European sales rose 16 percent. Shares of Hermès were up more than 3 percent in Paris late trading. Only a small fraction of the shares has traded since the luxury maven Bernard Arnault, the boss of LVMH Moët Hennessy, began building a major stake in the company; he is now the largest shareholder with 22.4 percent. Most of the remainder is held by members of the Hermès family. The company's board proposed to pay a dividend of €2 per share for 2011, as well as a special one-time dividend of €5 per share.