Jan 24 - Bernard Arnault, chief executive of the world's No.1 luxury group, LVMH, said he was not seeking control of luxury peer Hermes, in which his group owns more than 20 percent, but was a friendly shareholder.

French businessman Bernard Arnault

Hermes, which sees LVMH's entry into its capital as hostile, is trying to discourage the group by creating a family holding with shareholders representing more than 50 percent of equity.

Last autumn, LVMH shocked the luxury world by announcing it had built up a 17.1 percent holding in Hermes mainly through complex derivatives transactions, which highlighted loopholes in France's regulatory disclosure system.

"We are a very friendly shareholder," Arnault told Reuters following the Christian Dior fashion show on Monday. Dior is the leading fashion house within the LVMH group.

"We are not asking for anything. We have clearly said that we do not want to take control of this company."

Arnault declined to say whether he would continue to raise the group's stake in Hermes, however.

Asked if LVMH's stake was purely a financial investment, Arnault said: "It is a strategic investment because the house operates in the luxury sector. It is a magnificent company.... And we support its management and shareholders."

(Reporting by Astrid Wendlandt and Mathilde Gardin; Editing by James Regan)