14 Jan '13, 9am

Done Deal: Harry Winston Sells Watch and Jewelry Business to Swatch Group

Done Deal: Harry Winston Sells Watch and Jewelry Business to Swatch Group

The Harry Winston booth at the 26th Biennale des Antiquaires in 2012, Paris The world’s largest watchmaking conglomerate the Swatch Group issued a press release announcing its purchase of the Harry Winston watch and jewelry brand for USD750 million. The purchase does not include the mining activities of the Harry Winston Diamond Corporation, now called Dominion Diamond Corporation. US-based HW Holding Inc, which owned Harry Winston Inc, had been seeking a buyer for its watch and jewelry business for some time now so this sale is not unexpected. The Swatch Group acquisition includes some USD250 million net of pro forma debt. “The Harry Winston brand now has a new home that can provide the skills and support that it deserves to realize its true potential,” said Robert A. Gannicott, Chairman of the Board and Chief Executive Officer of Harry Winston Diamond Corporation. “Harry...

Full article: http://www.luxury-insider.com/luxury-news/2013/01/done-de...

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

Swatch Buys Harry Winston Jewelry Brand for $1 ...

bloomberg.com 14 Jan '13, 8am

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

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