1 Min Read
ZURICH, Jan 14 (Reuters) - Swatch Group said on Monday it was buying watch and jewellery brand Harry Winston and its 535 employees for $750 million plus up to $250 million of net debt to complement its high-end watch portfolio.
"Harry Winston does brilliantly complement the prestige segment of the Group. We are proud and happy to welcome Harry Winston to the Swatch Group family - diamonds are still a girl's best friend," Chairwoman Nayla Hayek said in a statement.
Swatch Group is known for its colourful plastic Swatch watches but also owns high-end brands Breguet, Blancpain and Jaquet Droz.