Harry Winston Diamond (HWD +7%) is looking to sell its watch and jewelry business to concentrate...

|By:, SA News Editor

Harry Winston Diamond (HWD +7%) is looking to sell its watch and jewelry business to concentrate on its mining business, and has been approaching potential buyers such as luxury groups LVMH and PPR, Reuters reports. HWD, which owns 40% of Canada's Diavik diamond mine, posted a lower quarterly profit and said luxury demand has slowed.