Harry Winston Bought By Swatch Group
Harry Winston luxury diamond jewelry and timepiece retail business was just acquired by the Switzerland-based Swatch Group for 1 billion dollars. According to Harry Winston chairman and CEO, Robert Gannicott, the need for cash and the shifts in the diamond and luxury retail markets led to this exchange.
Talk began about Harry Winston and the Swatch Group in 2011 when the Swatch Group ended its partnership with Tiffany & Co. in acrimony. By breaking this agreement they stopped supplying watches to the famed jewelry company. Now they could be a big competitor with this new development.
When all deals are finalized, the Harry Winston Diamond Corp. will be completely in the diamond distribution and mining business and will operate under the name Dominion Diamond Corporation.
One of the world’s largest buyers of polished diamonds, the Swatch Group hopes that they can bring together the expertise of the two companies with regards to new ventures in diamond polishing.
Fashion Designer Alber Elbaz Tries His Hand At Makeup
Fashion designer Alber Elbaz, has teamed up with Lancôme for his debut into the world of beauty products. He has created a color-cosmetics collection that is said to meld perfectly with the new values of Maison Lancôme. This collection is limited-edition and is set to be released June 15, 2013 worldwide.
First Gucci Store Opens in Rio de Janeiro
It seems as if many new doors are opening up for Rio de Janeiro lately. First the announcement that they will be hosting the 2016 Summer Olympics and now Gucci unveils its first store in Rio. The Village Mall in Rio de Janeiro will be the host to the first Gucci store. The store will encompass men’s, women’s and children’s clothing as well as accessories.
This new store was designed by Gucci’s creative director, Frida Giannini. It incorporates luxury elements such as rosewood, and marble as well as materials indigenous to Brazil.
Also offered in the Rio store is the GG Flag Collection: Brazil series. This is marked by an exclusive line of accessories with the Brazilian flag. Twenty-five percent of the retail price of each item sold in the collection is going to be donated to education initiatives backed by UNICEF.
– Jamie Wilson
Sources: WWD, Forbes; Image: Harry WinstonSee the Top Ten Summer 2016 Trends for Women Over 40