The world's largest maker of Swiss watches, the Swatch Group AG, has announced the appointment of Nayla Hayek as the head of its Harry Winston luxury jewelry and watches group. She replaces Frederic de Narp after the Swiss watchmaker's acquisition of the Harry Winston brand early this year.
Hayek is the daughter of Swatch co-founder Nicolas Hayek and would become CEO of Harry Winston immediately. She is concurrently the chairwoman of Harry Winston, when the company bought jeweler last March for US$1 billion.
De Narp headed the company since January 2010 and has left the company according to Beatrice Howard, spokeswoman for Swatch, which is headquartered in Biel, Switzerland.
Swatch acquired Harry Winston to compete against Cartier in the market for luxury watches. Cartier is a subsidiary of Cie Financiere Richemont SA and Swatch has other timepiece brands such as Omega, Tissot and Breguet.
The Harry Winston has been carried by the elite on both sides of the Atlantic, with many celebrities wearing their creations during red-carpet events. The brand was created in 1932 and operates stores worldwide.
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