Swatch has agreed to shell out about $1 billion to acquire Canadian watch and jewelry brand Harry Winston. The price includes $750 million for the brand and $250 million in debt securities from the Toronto company. The acquisition also includes the production company in Switzerland and 500 employees globally. Swatch president Nayla Hayek explained in a statement that the brand “brilliantly integrates the high-end segment” into the group’s portfolio. The deal is subject to approval from market regulators.
Swatch acquires Harry Winston jewels
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