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Homework Help: Solved 191526

Background Information Harry Winston is a leading brand that is known to produce and deliver quality watches and jewelry to its customers (“Harry Winston” par. 2). The brand was founded on the design philosophy of Mr. Harry Winston. Harry Winston Diamond Corporation was founded in the year 1932 and is headquartered in New York. The brand has been setting the pace in the industry. The company “designs, purchases, and markets jewel-encrusted bracelets, rings, earrings, necklaces, high-end timepieces, customized wedding jewelry” (“Harry Winston” par. 4). Harry Winston (also called the House of Harry Winston) has for decades supported its tradition of rarity, quality, and creativity. The company has retail salons in different cities across the globe such as Geneva, New York, Paris, London, Hong Kong, Shanghai, and Tokyo. The brand is revered by many enthusiasts across the globe. A detailed analysis of Harry Winston’s evolution and development can make it easier for more people to understand its core business values and future strategic direction. Mission and Values Harry Winston Diamond Corporation has a powerful brand mission statement that supports its superior brands and business goals. The mission statement is to “celebrate the meaningful moments of every client’s life” (Weisberger 17). As well, the brand has a unique mission statement for its retail segment. The mission statement is to “create financial value for every stakeholder by crafting goodwill for both clients and the society” (“Harry Winston” par. 6). These missions are critical towards making Harry Winston one of the leading manufacturers of diamond jewelry and timepieces. Such exclusive products are intended to support the needs of every global consumer. History and Legacy Weisberger believes that Harry Winston is a brand that has evolved over the years to become a source of admiration for many global customers (29). The founder of Harry Winston Diamond Corporation, Mr. Harry Winston, was a dedicated gemologist and intuitive businessperson (Weisberger 38). These attributes played a significant role in determining the business aspects of Harry Winston Diamond Corporation. The company was “started in 1932 thus marking the beginning of a remarkable legacy” (“Harry Winston” par. 4). In 1935, Harry Winston purchased the Jonker. This was an uncut diamond stone weighing 726 carats. Mr. Winston continued to purchase historic stones, uncut diamonds, and jewels. The diamond enthusiast continued to open new stores and purchased numerous gemstones. He later died in 1978 aged 82 years. The firm continued to open new stores in different countries such as Switzerland and Japan. In 1989, Harry Winston “introduced a new collection of timepieces thus joining the club of fine watch-making firms” (Weisberger 17). The corporation introduced the famous Opus Series in the year 2001. The firm became the first in the world to manufacture, design, and market timepieces crafted in Zalium (Weisberger 65). Zalium is an innovative alloy containing zirconium. In 2011, Harry Winston introduced handcrafted high-end jewelry collections known as Ultimate Adornments. This jewelry was crafted from rare compounds such as platinum and diamonds (Weisberger 78). Fig 1: Harry Winston Cascading Sapphire and Diamond Drop Necklace. Fig 2: Harry Winston Histoire de Tourbillon 1 Watch. The products and watches produced by Harry Winston Diamond Corporation continue to support the journey of culture, tradition, and heritage (“Harry Winston” par. 5). The firm has acquired many gemstones and diamonds. These gemstones have continued to exemplify the values and legacies established by Mr. Harry Winston. The firm is expected to continue producing exemplary watches and jewelry that can support its long tradition of quality and heritage. Get your 100% original paper on any topic done in as little as 3 hours Learn More Core Competencies Harry Winston has remained a powerful brand in the global jewelry industry. This is the case because the company works hard to develop and sustain a number of core competencies. The first core aspect of the brand is founded on the superiority and image of its diamonds. Such diamonds “portray the image of a global style that meets the needs of every potential client” (Weisberger 82). As well, the brand is characterized by unrivaled craftsmanship. This approach makes it easier for the firm to design powerful products and jewelry that can deliver exclusive designs (Weisberger 82). The company’s presence in different countries makes it competitive. The major regions targeted by the brand include Europe, the Far East, and North America. As a result, Harry Winston supports the needs of more consumers in these regions while at the same time remaining competitive. Harry Winston’s concept of philanthropy differentiates its business model from that of every immediate competitor. The philanthropic activities are undertaken by the firm always attract more consumers from different parts of the world (“The Trouble with Harry Winston” par. 9). The uniqueness of the company’s brands is something that supports its business goals. The products are also marketed in a professional manner thus adding value to the targeted stakeholders. Competitors Competition remains a major challenge for many companies in the jewelry and luxury watch industry. The company faces competition from some leading designers and marketers of consummate products such as Tiffany


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