Harry Winston to sell diamond jewellery and watch division to Swatch Group

Harry Winston Diamond Corp. plans to sell its diamond jewellery unit and watch division to ‎The Swatch Group. The deal is expected to be worth around $1 billion, reports add. After the deal, Swatch will trade the luxury division under the name Dominion ‎Diamond Corp, reports say.

The deal will also entail that Harry Winston maintain a polished diamond sourcing relationship with Swatch Group and seek opportunities for a joint diamond polishing venture., reports add. ‎