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 Heading for America? Prepare for the longest US immigration queues ever
- 2 Notes from a small island: Is Sealand an independent 'micronation' or an illegal fortress?
- 3 You thought Ryanair's attendants had it bad? Wait 'til you hear about their pilots
- 4 'Swivel-gate': David Cameron goes to war with the press over 'swivel-eyed loons' slur
- 5 It’s official: thanks to Stephen Hawking's Israel boycott, anti-Semitism is no more
BMF is the UK’s biggest and best loved outdoor fitness classes
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Win anything from gadgets to five-star holidays on our competitions and offers page.
iJobs Money & Business
£550 - £600 per day: Orgtel: Fidessa Analyst / PM - Banking - London - Up to £...
£450 - £500 per day: Orgtel: Sourcing Manager - Banking - London - Up to £500p...
To be discussed at interview.: Queen Elizabeth's School: An experienced and ef...
£294.05 - £330.92 per day + 150 per day travel and accommodation: Orgtel: A le...