Reuters validates Laurence Graff’s plans to raise $1b in a public offering in Asia to expand his diamond business further in Asia:
Graff Diamonds plans to raise about $1 billion in a Hong Kong listing next year, a move to fund further expansion in Asia and capitalize on booming demand for high-end gems in China and India.
“I think it is a clever move because he is number one today. He still has room to expand everywhere,” Eric Valdieu, a jewelry expert formerly with Christie’s who has launched an investment fund “Divine Jewels”, told Reuters.
“It is a very expensive business. Therefore, if he wants to go faster he needs large financial support,” he said.
Graff’s glittering stores sit on the world’s most exclusive shopping streets, including the posh rue du Rhone in Geneva.
“When I see his inventory, the quality of his merchandise, the beauty of his shops, how cleverly everything is run, I can only suggest to people to go for it — if people want to invest with a retailer,” Valdieu said.
“They are investing with someone who knows what he’s doing,” the Frenchman added.