Georg Jensen bought by Investcorp
Tuesday 06 November 2012
The Middle East investment house that previously owned and floated Gucci, Saks Fifth Avenue and Tiffany & Co is turning its hand to a Danish upmarket jeweller.
Investcorp, based in Bahrain, has paid $140m (£87m) for Georg Jensen and plans to expand it globally from the US to Asia, from 100 stores now.
It has drafted in the luxury goods expert David Chu, the founder of Nautica, who will become chief creative officer, and Guy Leymarie, the former chief executive of jewellers DeBeers and Cartier.
Ulrik Garde Due, who joined Georg Jensen five years ago as chief executive, having previously worked at LVMH and Burberry, will stay on in that role. He said: "The bling bling era is fading so there is a growing understanding of our simplicity of design."
The brand, founded in 1904, was sold by the private equity group Axcel Capital Partners.
- 1 Scarlett Johansson new band 'already hit with legal complaint' from another The Singles
- 2 Husband and wife die holding hands within hours of each other after 67 years of marriage
- 3 What color is The Dress, white and gold or blue and black? An eyewitness gives a definitive answer
- 5 'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Husband and wife die holding hands within hours of each other after 67 years of marriage
Mohammed Emwazi: Nine things we know about Isis militant 'Jihadi John'
What color is The Dress, white and gold or blue and black? An eyewitness gives a definitive answer
'Jihadi John': Mohammed Emwazi – from British computer programmer to Isis executioner
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Oscars 2015: Birdman beats Boyhood as Eddie Redmayne and Patricia Arquette win big - as it happened
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
This is what it's like to be dead, according to a guy who died for a bit
iJobs Money & Business
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...
£22,000 - £23,000: Beverley James: Are you looking for the opportunity to work...