Diamonds are Swatch's new best friend

Adding to its brace of high-value brands - Swatch already owns Omega and Tiffany - the Swiss Group has just bagged deluxe jewellery and watch brand Harry Winston for an eye-watering $750 million.

Swatch is dripping in cash and can afford to lash out a bit on a smattering of trophy brands. But why spend so much cash on a jewellery maker?%VIRTUAL-SkimlinksPromo%