Investors, including Cartier owner Richemont, are circling round independent jeweler Graff, as the race intensifies to grow and snap up high-end brands amid resurgent demand for luxury goods, Miss Tweed learns.
Graff, which had to abort a $3.5 billion Hong Kong IPO in 2012 due to low investor appetite, is known for its rare colored diamonds and 3-million-euro necklaces. The company started in 1960 as a small jewelry shop in London, set up by Laurence Graff, the son of poor immigrants from Eastern Europe. Within years, tapping newly minted billionaires from the Middle East and Russia, Graff had become the “King of Diamonds.”
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