14 Jan '13, 8am

Swatch Buys Harry Winston Jewelry Brand for $1 Billion #Retail #Luxury #Acquisition

Swatch Buys Harry Winston Jewelry Brand for $1 Billion #Retail #Luxury #Acquisition

Swatch Group AG (UHR) , the biggest maker of Swiss timepieces, agreed to buy the Harry Winston watch and jewelry brand for about $1 billion, adding a luxury label through its biggest acquisition ever. Swatch Group will pay Harry Winston Diamond Corp. (HWD) $750 million and assume as much as $250 million in debt, the Biel- based company said in a statement today. Harry Winston Diamond said it will change its name to Dominion Diamond Corp. The acquisition will help Swatch compete against Cie. Financiere Richemont SA’s Cartier brand in the market for jewelry watches. Swatch had a gap in its portfolio after deciding to end a collaboration with Tiffany & Co. (TIF) in 2011, according to Rene Weber, an analyst at Bank Vontobel in Zurich. “Swatch was always missing a jewelry-watch brand and Harry Winston definitely fits into that category,” he said. “After the Tiffany disaster, th...

Full article: http://www.bloomberg.com/news/2013-01-14/swatch-buys-harr...

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Big retail news! Swatch buys luxury jeweler Harry Winston #jewelry #retail #luxury

Big retail news! Swatch buys luxury jeweler Har...

money.cnn.com 14 Jan '13, 12pm

The Swiss firm is paying up to $1 billion for Harry Winston LONDON (CNNMoney) Harry Winston, jeweler to the stars, has a n...

Swatch buys Harry WInston jewellery arm #luxury #luxe #retail #harrywinston #swatch #jewellery

Swatch buys Harry WInston jewellery arm #luxury...

reuters.com 14 Jan '13, 12pm

By Silke Koltrowitz and Clara Ferreira-Marques ZURICH/LONDON | Mon Jan 14, 2013 11:07am EST ZURICH/LONDON (Reuters) - Swit...

Swatch to buy jeweler Harry Winston for $1 Billion

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PageType='article' Category Value='Accessories' Category URL Name='accessories-news' Subcategory Value='Jewelry' Subcatego...