Parties mum on alleged John Hardy sale
December 04, 2013
These bracelets are from John Hardy’s fall 2013 Dot collection. The brand’s eponymous founder, a Canadian artist inspired by the jewelry-making techniques and style in Bali, started the company in 1989 and sold it in 2007.
New York--None of the firms allegedly jostling to buy John Hardy are commenting on the reported deal, which values the jewelry brand at $100 to $140 million.
On Friday, Reuters published a report citing anonymous sources that stated a number of private equity firms were bidding on the Hong Kong-based, Bali-made brand, which has been in operation for 24 years.
Among those named in the report were TSG Consumer Partners, which has sunk money into Alexis Bittar; Catterton Partners, which has a stake in high-end crystal company Baccarat; TA Associates; and JH Partners LLC, the San Francisco-based firm that acquired an interest in the Alex and Ani brand in October 2012.
John Hardy, TA Associates and JH Partners did not respond to request for comment on the report.
TSG Consumer Partners and Catterton Partners declined to comment.
John Hardy started his eponymous company in 1989 and sold it 18 years later to its then-President and now-CEO Damien Dernoncourt and head designer Guy Bedarida, who designed for Boucheron and Van Cleef & Arpels before joining John Hardy.
According to Reuters, Dernoncourt and Bedarida share ownership of the company with a private equity firm called 3i. That company declined comment to Reuters.