The top diamond jewelry brand in America, Harry Winston, had descended into chaos after its founder died in 1978 and sons Ronald and Bruce engaged in a nasty legal battle that crippled the business.
Though its origins are shrouded in mystery, the diamond was bought by Harry Winston in 1957 and repolished.
While many companies are struggling in this sluggish recovery Harry Winston Diamond Corp. seems to have the best of both worlds as it has businesses in the diamond mining sector and as a luxury jewelry and watch retailer.
Harry Winston in May announced that it is involved in the establishment a polished diamond investment fund.
"They buy what lasts, what is wearable, what is classic, " says James Haag, a director of Harry Winston in New York, another high-class jeweler.
The Brazilians jet to Harry Winston in New York, where they refuse the legendary jewel seller's request to polish a section of the 79-carat rough.
Today, it was confirmed in the press that Harry Winston is indeed looking to sell its stores and has been peddling the wares to the likes of LVMH, makers of Louis Vuitton luxury products, and PPR, makers of Gucci luxury products.
When a young, dewy-faced Gwyneth Paltrow accepted the Best Actress Oscar for Shakespeare In Love, the world caught a four-minute glimpse of the Harry Winston Princess Necklace, glistening in time with every benevolent gesture.
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So what does Harry Winston lose in the event of a retail sale?
The Ekati Diamond Mine has produced an average of approximately three quarters of a billion dollars of rough diamonds per year over the past five years, Harry Winston said in a statement.
FORBES: Harry Winston to Purchase Ekati Diamond Mine For $500 Million
In response to recent media reports, Harry Winston Diamond Corp. issued a statement Thursday saying it is not in talks to sell its luxury jewelry and watch business.
FORBES: Harry Winston's Luxury Retail Business Is Not For Sale
Harry Winston was reportedly in talks to buy the mine outright.
FORBES: Harry Winston's Luxury Retail Business Is Not For Sale
Way back in August, we reported that Harry Winston (NYSE: HWD) was thinking about selling its namesake diamond retail business to focus solely on its mining operations.
In truth, the New York jeweler Harry Winston is probably the current champ.
Harry Winston also was reportedly in talks to buy the remaining interest in Diavik from its partner in the venture, Rio Tinto Diamonds.
FORBES: Harry Winston to Purchase Ekati Diamond Mine For $500 Million
In addition to being a luxury jeweler and timepiece company, Harry Winston Diamond Corp. operates as a diamond mining business with a 40 percent ownership interest in the Diavik Diamond Mine.
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Jewelers have been loaning their best baubles to the stars--on Oscar night, in particular--since 1943, when Harry Winston outfitted Best Actress nominee Jennifer Jones with his treasures.
When not in talks to buy diamond mines, Harry Winston, better known as an international luxury retailer, is working on its jewelry and watch business.
"They buy what lasts, what is wearable, what is classic, "says James Haag , a director of Harry Winston , another glitzy jeweler, based in New York.
Harry Winston shares ownership of the diamond mine in the Northwest Territories of Canada with mining giant Rio Tinto, which owns a 60 percent stake.
FORBES: Harry Winston's Luxury Retail Business Is Not For Sale
Not to mention focus: In court documents Bruce accused Ron of using money from Harry Winston to fund some of his considerable outside pursuits, which include rocket propellants, metallurgy, moviemaking and poetry.
Robert Gannicott, Harry Winston chairman and CEO, said changes in both luxury retail and the diamond markets, as well as the need for cash, led to the decision to sell its luxury retail operation.
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Harry Winston Diamond Corp. is a business with assets in the mining and retail segments of the diamond industry.
FORBES: Harry Winston's Luxury Retail Business Is Not For Sale
It may be something Harry Winston will explain over the next few days, but in the meantime we can ask some questions.
Arriving first, Chastain conjured golden era Hollywood in gilded Armani Prive and a combination of Deco diamond earrings and bracelet, courtesy Harry Winston.
Harry Winston is a premier diamond jeweler and luxury timepiece retailer with luxury salons in key locations around the world.
Harry Winston supplies rough diamonds to the global market from its 40 percent ownership interest in the Diavik Diamond Mine.
FORBES: Harry Winston's Luxury Retail Business Is Not For Sale
Pursuant to the joint venture agreements, BHP Billiton will first separately offer to the joint venture parties its interest in each of the Core and Buffer Zones on the same terms as those agreed to by Harry Winston.
FORBES: Harry Winston to Purchase Ekati Diamond Mine For $500 Million
Ronald Winston is eager to hear how salesclerks at Harry Winston treated a tourist who recently wandered into the jeweler's imposing flagship store in Manhattan and asked if she could browse.
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