Swatch Group Acquired Harry Winston Inc.

The largest manufacturer of watches Swatch Group Ltd. has recently announced the acquisition of 100 percent stake of the U.S. company HW Holdings Inc., the owner of the brand Harry Winston.
Swatch Group Ltd. will own the jewelry and watch company, as well as the manufacturing facility in Geneva. Now the number of employees worldwide totals 535 people. Under the contract the company Swatch Group must pay the current owner of $ 750 million and assume debt mark of $ 250 million The deal does not include the mining division of Harry Winston Diamond Corporation (TSX: HW, NYSE: HWD), which will be renamed Dominion Diamond Corporation (Toronto, Canada).

Swatch Group Acquired Harry Winston Inc.
Swatch Group Acquired Harry Winston Inc.

The head of Harry Winston Diamond Corporation Robert A. Gannicott expressed his opinion on the transaction: "Now Harry Winston has a new home that will provide it with the necessary support to realize its true potential."
According to Chairman of Swatch Group Ltd., Nayla Hayek, “Harry Winston brilliantly complements the segment of prestigious watches. We are very pleased to accept the company Harry Winston into the family of Swatch Group, after all diamonds - still the best friends of women."

Official site of Harry Winston.

Written by Angel

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Harry Winston watches are not just devices designed for measuring time, but also expensive pieces of jewelry. Only very wealthy people can afford to buy Harry Winston luxury wrist watches. The production of Harry Winston watches began in 1989, after the New York's famous jeweler had decided to expand his business. Those were Harry Winston jewellers who managed to make watches, that could surely be called real masterpieces thanks to the great professional competence of their creators. The first Harry Winston watches collection created a furore, because no one before had been able to combine wat…

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