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Harry Winston spends $500m on BHP diamond mine Tuesday, 13th November 2012
Photo credit: Harry Winston
Toronto-based Harry Winston Diamond Corporation is set to buy a controlling state in the EKATI diamond mine for USD 500 million, as the jeweller looks to invest in the rising prices for rare gems.
Previously owned by BHP Billiton, the sale represents BHP’s exit from the diamond industry, just one year after the world’s largest miner said it planned to sell off its assets, including the 80 per cent stake in EKATI, Canada’s oldest diamond mine.
Having long been considered a likely buyer for the mine, Harry Winston said it would fund the deal with cash at hand and with debt, including a USD 400 million term loan and a USD 100 million revolving credit facility.
LVMH, PPR linked to Harry Winston sale Wednesday, 17th October 2012
Photo credit: Harry Winston Diamond Corp
Harry Winston Diamond Corp is preparing to sell its watch and jewellery business, according to sources close to the matter.
The Toronto-based group is said to be looking to re-focus its efforts on its mining operations instead, looking to potential buyers such as luxury groups LVMH and PPR for its retail business.
A report by Reuters citing people familiar with the deal, said that Harry Winston is now “doing the rounds” among potential buyers for its jewellery and watch assets.
Named after the famous eponymous American designer, the Harry Winston brand operates eight salons in the US and seventeen stores outside of the states. The company, which also owns 40 per cent of the Diavik Diamond Mine joint venture in Canada, has posted lower quarterly profits for September as the luxury market begins to feel the impact of a global consumer downturn.
Both PPR and LVMH have been linked to a possible acquisition of the jeweller, with both groups thought to be keen to strengthen their jewellery brand portfolios.
Jubilee gives John Lewis a 15% sales boost Friday, 8th June 2012
Photo credit: My Retail Media
Sales rose 15 per cent year-on-year for the country’s biggest department store group, largely attributed to a four-day nation-wide celebration of the Queen’s Diamond Jubilee.
Sales for the week to 2 June rose to £62.9 million, continuing John Lewis’ recent run of strong trading.
Electricals and home technology, which have remained strong contenders in the run up to the Olympics and the digital switchover in the south of England rose 18.8 per cent for the week. Homewares followed with 9.3 per cent whilst fashion categories saw an impressive 20.1 per cent growth.
"A subdued start to the week, as the good weather continued, gave way to a final three days of 27 per cent plus growth in the run-up to the Jubilee weekend, delivering a 15 per cent overall increase on last year," John Lewis said of the department store outcome.
Jubilee sees Waitrose sales soar Thursday, 7th June 2012
Photo credit: Waitrose Ltd
Waitrose saw its highest week of trading, aside from Christmas and Easter, over the Jubilee weekend as sales rose 19.8 per cent year-on-year.
In the run up to the Jubilee, John Lewis’ supermarket division said bestsellers included pork pies, sausage rolls and scotch eggs, which were up 76 per cent a-piece as shoppers looked to fill their baskets with some iconic British picnic fare.
In the week ending 2 June trifle sales also rose 28 per cent from the same time a year before, while tubes of red, white and blue icing were up 637 per cent.
Speaking in light of the results, Mark Price, managing director at Waitrose, said:
“The prospect of a long weekend and a wonderful focus for celebration spurred shoppers into action. Many people clearly welcomed having a great reason to step away from day-to-day budgeting to stock up on fabulous food and drink for Jubilee parties and entertaining.”
Jubilee shoppers could double Royal Wedding spend Monday, 28th May 2012
Jubilee celebrations could bring in an extra £800 million as the nation gears up for a four day bank holiday weekend.
The latest consumer figures released by Moneysupermarket.com suggest shoppers will spend a combined £823 million this weekend, compared to the estimated £480 million for the royal wedding last April.
According to a report by the Telegraph, Sainsbury’s is expecting the festivities to bring in a sales boost “second only to Christmas” while John Lewis has seen sales of memorabilia increase around 15 per cent each week in the run up to the Queen’s Diamond Jubilee.
It’s estimated that 40 per cent of the population will make plans to celebrate in some way, spending an average of £40 per person on Jubilee-related purchases.
Fortnum & Mason plan picnic-feast for the Queen Friday, 21st October 2011
Historic department store Fortnum & Mason will hand-deliver picnics to people enjoying the Queen’s Diamond Jubilee next June.
Anyone gathering at Green Park and Hyde Park during the four days of festivity will be able to telephone the store and have lunch delivered to their deckchair.
The picnics form part of the nationwide “Big Lunch” initiative planned for the jubilee, which will see Piccadilly closed between the 304-year-old store and Piccadilly Circus.
Fortnum’s today revealed plans to dress its store and windows in bunting for the whole of next years as it launched 60 crested products marking the Queen’s 60-year reign.
Diamond dog causes trouble for jeweller Tuesday, 23rd August 2011
When an entire pack of lose diamonds went missing in a jewellery store in Georgia, U.S, the owner knew better than to blame the customer’s he’d been assisting, but the cheeky store dog looking for an afternoon snack.
Co-owner Chuck Roberts told press he had been in the middle of sorting through four packs of diamonds, when he was called to wait on a customer. When he returned, Roberts noticed there were only three packs remaining of the diamonds, which weighed about a carat each.
Putting two and two together he hurriedly bundled the store’s pet dog Honey Bun in the car, whisking her to the vets. Although X-Rays cannot show carbon, blank spots in the dog’s stomach indicated where the missing diamonds had ended up.
To the relief of Roberts and his business, Honey Bun later passed the stones, and neither the dog nor the diamonds (which Roberts cleaned and returned to the supplier) suffered any damage.