Jewellery brand welcomes Nautica founder as chief creative director.
Luxury brand Georg Jensen has been acquired by alternative investment company Investcorp in a deal worth $140 million (£87.6m).
A definitive agreement has been signed by Investcorp, which will acquire the brand from private equity firm Axcel Capital Partners.
The news has instigated an internal shake-up at the company, with David Chu – a luxury goods entrepreneur and founder of the Nautica watch brand – set to join the company as its chief creative director and co-chairman of the board.
Guy Leynarie, former chief executive of De Beer’s retail arm De Beers Diamond Jewellers, as well as Cartier and Dunhill, is also set to join the board on the closing of the deal.
Georg Jensen manufactures its own silver and fine jewellery and watches, as well as fine silverware and homeware. It has a number of standalone stores including one on Bond Street in London, and shop-in-shop areas in Harrods and Selfridges in the UK.
Investcorp is a provider and manager of alternative investment products with high-net-worth private and institutional clients. It says its key competitive strengths is its ability to offer clients “a range of attractive investment products”. Investcorp is said to have approximately $11.5 billion (£7.2bn) of assets under management.