×
125
Fashion Jobs
SUPER FASHION
Manager -Accounts & Finance(For Garment Export House)
Permanent · Faridabad
LIMEAPPLE APPAREL
Ecommerce Expert With Digital Marketing Skills
Permanent · CHENNAI
EXCELLENTIA CAREERS HIRING FOR RENOWNED WELLNESS COMPANY
jO-Studio Manager/ Front Office-Pune, Ahmedabad, Gurgaon, Delhi, Surat
Permanent · Pune
GOKALDAS EXPORTS LTD
Factory Manager - Doddaballapur
Permanent · Tumakuru
SIYARAM SILK MILLS LTD
Area Sales Officer/ Area Sales Manager - Fabric Dtr
Permanent · Chennai
PSEXPORTS AND CONSOLIDATES PRIVATE LIMITED
sr.Merchandiser/ Merchant Manager/ Quality Incharge/ Fabric Manager
Permanent · Chennai
HUNGRY BIRD CONSULTING SERVICES PVT LTD.
Jewellery Sales Executive - Jewelry Store
Permanent · Hyderabad
SIYARAM SILK MILLS LTD
Regional Sales Manager Fabric - South Region (India)
Permanent · Chennai
SIYARAM SILK MILLS LTD
Regional Sales Manager - South (Chennai)
Permanent · Chennai
SIYARAM SILK MILLS LTD
Regional Sales Manager Dtr - South (Chennai)
Permanent · Chennai
TALENT INDIA
General Manager/vp - HR (Garments / Textile Industry) Urgently Rqd
Permanent · Bengaluru
HUNGRY BIRD CONSULTING SERVICES PVT LTD.
Jewellery Sales Executive - Jewelry Store
Permanent · Hyderabad
SODEXO
Hiring Facility Manager-Technical at Hyderabad Location
Permanent · Hyderabad
ISHIN
E-Commerce Head
Permanent · Mumbai
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
NIKE
Software Engineer Iii - Inventory Order, India - Move Icc
Permanent · Bengaluru
NIKE
Software Engineer ii – Move, Icc
Permanent · Bengaluru
By
Reuters
Published
May 4, 2012
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Jeweller Graff gets nod for $1 billion IPO

By
Reuters
Published
May 4, 2012


Photo: Graff Diamonds
HONG KONG - Graff Diamonds, which sells "the most fabulous jewels in the world", has received the green light from the Hong Kong bourse for a market debut that could raise up to $1 billion, sources said, paving the way for growth in luxury-hungry Asia.

Three sources with direct knowledge of the plan said Graff, given the blessing by the HK exchange on Thursday, could start drumming up demand for its shares from investors as soon as next week, though there was no timetable for pre-marketing.

London-based Graff, whose giant gems and rare diamonds have been worn by celebrities from Imelda Marcos to Oprah Winfrey, has said it planned to use the funds to open new stores in key locations and build its inventory to keep up with its customers.

Graff's sales are split equally between Asia, Europe and the United States, with growth in Asia far outpacing other markets, founder Laurence Graff told Reuters in a November interview.

Graff joins French cosmetics company L'Occitane, Italian fashion house Prada and luggage maker Samsonite in looking to tap booming demand for luxury goods in China and raise brand awareness, and also paves the way for others eyeing Asia's appetite for gems.

Entrepreneur Beny Steinmetz has said he could seek a Hong Kong listing for his Octea diamond operations, which include the Koidu mine in Sierra Leone, later this year.

The luxury goods industry has been performing well despite economic uncertainty around the world, and that has been reflected in strong demand for shares in listed companies.

Last month, Italian cashmere house Brunello Cucinelli and high-end luggage maker Tumi Holdings both saw their stock surge on their Milan and New York debuts respectively, while shares in luxury brand Michael Kors Holdings have more than doubled in price since their Dec. 15 trading debut.

"Luxury goods have proved slightly protected from wider consumer sentiment," said one equity capital markets banker.

CLSA Asia Pacific Markets estimated Chinese demand will account for 44 percent of the global luxury goods market by 2020. De Beers, the world's largest diamond producer by value, forecast the world's No.2 economy will account for 16 percent of global diamond demand by 2016, up from 6 percent in 2009.

The Graff IPO will also come on the back of a 15 percent jump in the benchmark Hang Seng index in 2012.

The IPO market in Asia-Pacific has had its slowest start in about four years, with overall equity market activity down about a fifth from last year.

Two sources said Graff could list in the second week of June, though no final decision had been made.

Credit Suisse, Deutsche Bank, Goldman Sachs and Morgan Stanley were hired as joint global coordinators on the IPO.

© Thomson Reuters 2021 All rights reserved.