TOKYO Oct 25 British private equity and venture
capital firm 3i Group Plc (III.L) said on Thursday it will invest
$30 million in Hong Kong-based jeweller John Hardy Group.
After 18 years in the business, John Hardy's founders are
retiring and have agreed to sell the firm to company chief
executive officer Damien Dernoncourt and creative director Guy
Bedarida. 3i's investment will support the management buyout.
Founded in 1989 by John Hardy, its products are now sold in
major department stores including Neiman Marcus, Saks Fifth
Avenue and Bloomingdales.
The firm plans to introduce new collections and increase its
sales in the Middle East, Russia and Japan, where the
brand already has a growing presence.