Harry Winston
Swatch Group · United States
Harry Winston is an American high jeweller founded in New York in 1932 and known as the jeweller of famous diamonds. Swatch Group bought the company in March 2013 for 1 billion US dollars.
| Founded | 1932, New York |
|---|---|
| Founder | Harry Winston |
| Owner | Swatch Group (since 2013) |
| Headquarters | New York, United States |
| Segment | Luxury diamond jewellery |
| Website | harrywinston.com |
What is Harry Winston?
Harry Winston, Inc. is a luxury diamond and fine jewellery house. It is named after its founder, who was born Harry Weinstein in 1896 and became known as the King of Diamonds. Famous stones associated with the firm include the Hope Diamond, the Jonker, the Lesotho and the Oppenheimer.
History
Wikipedia gives 1932 as the founding year in New York, though it also mentions that Winston started his business in 1920. In 1926 he acquired the jewellery collection of Arabella Huntington for 1.2 million US dollars, which launched his business. In 1935 the Jonker crystal became the first major diamond crystal cleaved in the United States. In 1944 the firm pioneered lending jewellery to actresses for the Academy Awards, starting with Jennifer Jones, and in 1958 Winston donated the Hope Diamond to the Smithsonian Institution.
Ownership
After Winston's death in 1978 the company passed to his sons, Ronald and Bruce. In 2000 Ronald and Fenway Partners bought Bruce out for 54.1 million US dollars. The Swatch Group acquired the company on 26 March 2013 for 1 billion US dollars.
Business model and distribution
As of 2015, Wikipedia reports 39 salons and retail affiliates across the United States and other countries, including New York, Beverly Hills, Las Vegas, Dallas, Honolulu, Bal Harbour, Chicago and Costa Mesa. This is a boutique and salon model rather than mass distribution.
Why it matters
Harry Winston helped create the idea of lending jewellery for the red carpet, a practice that is now routine in fashion and jewellery marketing. It also anchors the high jewellery side of Swatch Group, which is otherwise known for watches.
Frequently asked questions
Who owns Harry Winston?
Harry Winston is owned by the Swatch Group of Switzerland, which bought the company on 26 March 2013 for 1 billion US dollars.
Is Harry Winston a luxury brand?
Yes. It is a high jeweller known for diamonds and for pieces such as the Hope Diamond, which Winston donated to the Smithsonian in 1958.