Harry Winston Confirms Buyer Interest in Retail Division
October 19, 12
The company announced this while noting it does not normally respond to market rumors. It added that it does not intend to make any further public announcements in this regard unless warranted by circumstances or required by law. Harry Winston has a presence at both ends of the diamond pipeline. It owns 40 percent of Canada’s Diavik diamond mine and it owns the eponymous luxury brand retailer. The luxury brand segment retails high end diamond jewelry and timepieces and has outlets in key locations including New York, Paris, London, Beijing, Shanghai, Hong Kong, Singapore, Tokyo and Beverly Hills. The company says that by focusing on the two most profitable segments of the diamond industry – mining and retailing – it is able to create shareholder value as the model provides key competitive advantages. Rough diamond sales and polished diamond purchases provide market intelligence that enhances its overall performance.
