Graff seeks to sparkle with $1bn flotation in Asia next year
Graff, the diamond specialist and jeweller, plans to list in Hong Kong next year, which will help it raise about $1bn ($64m) to expand in Asia and other cities worldwide.
Laurence Graff, the founder and chairman of the London-based firm, which sells diamonds and precious gems, said: "Unless you are a certain size you haven't got a chance."
Speaking at its flagship Hong Kong store, the 73-year-old added: "Competition, in time, is going to be less and less because you have to be a giant in the industry to support the stocks that you have, the high rentals, support new design, new effort and be able to experiment in new countries."
One of Britain's richest men with an estimated fortune of nearly $3bn, Mr Graff founded the jeweller in 1960 in London and since then has counted the likes of Oprah Winfrey, Imelda Marcos and the Sultan of Brunei among his clients.
As well as its global flagship store on London's New Bond Street, Graff has more than 30 stores, including in New York, Monte Carlo, Beijing and Taipei. It plans to open in China's Hangzhou and Macau next year.
- 1 Snoop Dogg and Jared Leto buy a stake in Reddit as A-list invests $50m
- 2 Prince held a Facebook Q&A and this is the only question he answered
- 4 Now we know whose fault it is if you end up being murdered in Thailand
- 5 35,000 walrus gather ashore on north-west Alaska beach 'for a rest'
Snoop Dogg and Jared Leto buy a stake in Reddit as A-list invests $50m
Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
Car tax disc changes: Five facts you never knew about your (almost obsolete) tax disc
The Aral Sea: Nasa pictures show how what was once the fourth largest lake in the world has become almost completely dry
Brad Pitt, on the moment he completely lost his temper with Clint Eastwood's son
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
The Osborne Ultimatum: Chancellor’s benefits freeze bombshell will affect ten million households
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Should gay sex be illegal? 16% of Britons think so
Mark Reckless becomes second Tory MP to defect to Ukip in a month
Benefits 'smart cards' plan revealed by Iain Duncan Smith to stop claimants spending welfare money on alcohol
- < Previous
- Next >
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...
Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...