A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Watches of Switzerland Plans to Go Public
The luxury retailer is considering listing on the London Stock Exchange.
London—Watches of Switzerland may soon go public, the company announced last week, as it looks to slash its debt and raise capital to grow its presence in the United States.
The luxury retailer is considering an initial public offering on the London Stock Exchange, offering both new and existing shares.
Watches of Switzerland did not respond to National Jeweler’s inquiry about its plans by press time, but CEO Brian Duffy told the Financial Times that filing is an IPO is an action the company has been considering “for quite a while.”
New York-based private equity firm Apollo Global Management currently has a 90 percent stake in the company, but would reduce its share as part of the deal while still maintaining a majority stake, according to the Financial Times.
About 25 percent of the company’s shares would be available for trading, as per the terms of the plan.
Duffy said that while he didn’t foresee anything preventing a listing, the company still needs to gauge investor interest.
Watches of Switzerland has 125 locations in the United Kingdom, and has been gradually increasing its footprint in the U.S. since 2017, opening a handful of retail locations, including its flagship in New York’s SoHo neighborhood and its latest store in Hudson Yards, a recently opened upscale development in New York that has been called “a billionaire’s fantasy city.”
Swiss watch exports to the U.S. increased more than 8 percent in 2018 after a few years of decline, according to data provided by the Federation of the Swiss Watch Industry.
If the company decides to go public, Barclays and Goldman Sachs International would act as joint global coordinators and BNP Paribas and Investec as bookrunners, while N.M. Rothschild would serve as the financial advisor.
The Latest
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
Joyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
He is remembered by loved ones for his loyalty, integrity, and kindness.
Hosted by Freeman’s | Hindman, the sale will take place May 7-8.
The auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
From cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
The charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Ahead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Members can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
He is remembered for his charisma, passion, integrity, kindness, and wit.