The Swatch Group SA: Swatch Group acquires the jewelry and watch brand Harry Winston Inc.
January 14, 2013 | by The Swatch Group SA
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January 14, 2013, The Swatch Group Ltd. in Biel/Bienne acquires 100% of the shares of the US company HW Holdings Inc., owner of Harry Winston Inc., 718 Fifth Avenue, New York.
The Swatch Group Ltd. acquires the brand and all the activities related to jewelry and watches, including the 535 employees worldwide and the production company in Geneva. The acquisition sum amounts to US$ 750 million plus the assumption of up to US$ 250 million of pro forma net debt. The transaction does not include the mining activities of Harry Winston Diamond Corporation, new: Dominion Diamond Corporation, in Toronto.
Robert A. Gannicott, Chairman of the Board and Chief Executive Officer of Harry Winston Diamond Corporation commented: «The Harry Winston brand now has a new home that can provide the skills and support that it deserves to realize its true potential.»
And Nayla Hayek, Chairwoman of The Swatch Group Ltd., says «Harry Winston does brilliantly complement the prestige segment of the Group. We are proud and happy to welcome Harry Winston to the Swatch Group family – diamonds are still a girl’s best friend.»
Media Contact:
The Swatch Group SA Media Béatrice Howald, Spokesperson The Swatch Group Ltd Biel / Bienne Switzerland Phone: 032 343 68 33
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Conclusion of this article: « The Swatch Group SA: Swatch Group acquires the jewelry and watch brand Harry Winston Inc. »
Source: The Swatch Group SA, Press release