Harry Winston trades diamonds for hard hat

With proposed sale of its retail arm, Harry Winston Diamond has clearly signaled its ambition to become a leader in Canadian diamond mining, a strategy that make sense for the company despite the risks.

The company - soon to be known as Dominion Diamond - made a clean break from jewellery retailing on Monday with the sale of its luxury arm to Switzerland’s Swatch for US$750 million in cash plus the assumption of US$250 million of debt.

via Business feed http://www.scmp.com/business/companies/article/1128458/harry-winston-trades-diamonds-hard-hat