We suspect that the majority of the brands income was from diamond decorated women’s models with more simple quartz movements. Harry Winston’s main timepiece collections are the Ocean and Midnight families. It has been rumored that while excellent for press and branding, the Opus was either a money losing or barely profitable segment of the brand. It is very much unclear what the future of the Opus collection will be with Harry Winston under Swatch Group ownership. He also most well-known for the creation its “Opus” line of annual watches that are favorites among watch lovers. It was Max Busser (now of MB&F watches) that helped turn around its timepiece division. Together that more or less equates to a price of $1 billion for Harry Winston.Īround the turn of the century, Harry Winston was also in trouble. Featuring the finest diamonds and most precious gemstones, Harry Winstons high jewelry creations epitomize creativity, rarity and quality without compromise. According to the Swatch Group the purchase price for Harry Winston was the quite reasonable sum of $750 million, plus $250 million in debt. This is the first time in quite some while that the Swatch Group has acquired a high profile jewelry and watch maker. LV - 4 Platinum Minute Repeater Tourbillon By Christophe Claret OPUMTR44PP001 2004. Logically the Swatch Group will incorporate much of Harry Winston in its own existing operations and install its own management, thereby making a lot of Harry Winston’s existing employees redundant. While the Swatch Group now has control of all of the 535 worldwide Harry Winston employees, it is unclear what the future for those employees is. It is a logical design given the movement and dial layout. I say this because of how the 18k white gold and sapphire crystal case is designed like a series of stacked cylinders. According to the Swatch Group, the terms of the purchase include 100% of the United States shares of HW Holdings Inc. The Harry Winston Opus 14 is a huge timepiece, and the case design is thematically similar to my favorite Opus of all time which is the Opus 11 (hands-on here). We’d say that it didn’t take long for Harry Winston and the Swatch Group to begin acquisition negotiations and to reach a deal. Now only a few months later, a buyer has emerged. Though popular, it was a widely known fact that Harry Winston was in a money losing position from a business perspective and was rumored to have been seeking a buyer for at least a little while. Back in October Reuters announced that Harry Winston was searching for a buyer for its timepiece and jewelry division. That is all of Harry Winston except its diamond mining division which was not acquired by Swatch Group (nor sold as far as we know). We will NOT barrage you with a relentless stream of daily or even weekly emails.The Swatch Group and Harry Winston announced today, January 14th, 2013, that Swiss Swatch Group has acquired the entirety of the Harry Winston jewelry and timepiece division. At your choice, we will periodically send you newsletters and promotional emails.
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