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Harry Winston operates in the two most profitable segments of the diamond industry: mining and branded retail.
The Company is not vertically integrated as it does not participate in the manufacturing (cutting and polishing) of diamonds, which is a low margin area of the pipeline.
The Diamond Pipeline: |
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| Diavik Diamond Mine – 40% ownership |
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Harry Winston Inc. |
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Harry Winston is one of the world’s preferred rough diamond suppliers, and uses its strong and established market relationships to secure the high-quality polished stones required by the luxury brand division of the Company – this gives the Company a vital competitive advantage in the upper strata of the retail jewelry business. As both a seller of rough stones and a purchaser of polished diamonds, the Company is constantly aware of real-time prices in the diamond market. Pricing intelligence generated by the purchase of polished stones is used to inform rough stone sales strategies and to seek to obtain the best prices for diamonds from Diavik.
At the retail end of the pipeline, Harry Winston has an unrivalled position as the most exclusive and prestigious diamond jeweler and luxury timepiece retailer and is known for its expertise, fine craftsmanship, quality gems and innovative gemstone settings. Harry Winston Inc. is headquartered in New York City, currently operates 21 directly operated retail salons worldwide, four licensed salons worldwide, and has more than 190 points of international distribution for its exclusive line of timepieces. The Company will build on its established reputation by consolidating and expanding its position through an integrated marketing strategy. Key to that strategy is a commitment to remaining at the absolute pinnacle of luxury, a specific niche where Harry Winston has and will continue to reside.
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