The Harry Winston Boutique on Fifth Avenue, NYC
In a major move, which has been being talked about for some time now, Swatch Group Ltd. of Biel/Bienne officially announced this morning that it has acquired 100% of the shares of the US company HW Holdings Inc., owner of Harry Winston Inc., 718 Fifth Avenue, New York 0019 (NY).
The Swatch Group Ltd. acquired the brand and all the activities related to jewelry and watches, including 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.
It will be quite interesting to see how Swatch Group (which owns Breguet, Blancpain, Omega, Hamilton, Rado, Longines, Tourbillon Boutiques, Leon Hatot, Glashutte Original, Swatch, and more) moves forward with the brand and its timepieces. We will keep you posted. Stay Tuned.
