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Harry Winston, Daimler Receive Investments
Jeweler Harry Winston will receive a $150 million investment from Toronto-based Kinross Gold Corp. The deal gives Kinross 19.9% of Harry Winston stock, a seat on the company's board of directors and a 9% stake in the Diavik Diamond Mine. Harry Winston also announced it would suspend its dividend in an effort to conserve cash. . . . keep reading
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Diamond Production Down, Currency Gains Up at Harry Winston (12/13)
(Source: LuxuryBrandNetwork.com)
"Lackluster" demand for polished diamonds in the U.S. and Japan was partly offset by growth in emerging markets, diamond house Harry Winston said as overall revenue fell 15.7% for its most recent quarter. A strengthening U.S. dollar led to a foreign currency exchange gain of $49 million for the period ended 31 October. That's an $89.6 million improvement over last year when a weakening dollar led to large losses. . . . keep reading
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Winston Heist Pegged at $30 Million (12/13)
(Source: LuxuryBrandNetwork.com)
The jewels taken during the dramatic armed robbery of Harry Winston's Parisian boutique were valued at $30 million by the company, far less than the $105 million value quoted by nearly every mass media outlet. . . . keep reading
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