February 21, 2019 / 10:15 AM / a month ago

Jewellery brand APM Monaco looks for buyer, deal could fetch $1 billion" sources

HONG KONG (Reuters) - European Jewellery brand APM Monaco is looking for a buyer and a deal could potentially fetch close to $1 billion, people with knowledge of the matter told Reuters.

The Monaco-Ville, Monaco-headquartered company has tapped French bank Natixis to manage the sale process, the people said.

The bank declined to comment.

Founded in 1982 by Ariane Prette, the Prette family-owned jeweller is hoping the sale would help it expand globally and has tapped investors in Asia, according to two of the sources.

APM Monaco did not respond to a request for comment.

The design-focused silver jewellery business currently has 200 stores worldwide, most of them in Europe and China. It also has a presence in Tokyo, Singapore and the U.S. West Coast.

Worn regularly by socialites and celebrities, APM Monaco has been targeting younger customers, one of the sources said.

Reporting by Kane Wu; Editing by Himani Sarkar

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