Swatch to buy Harry Winston for up to $1bn Harry Winston's chief executive Robert Gannicott also hailed the deal. "The Harry Winston brand now has a new home that can provide the skills and support that it deserves to realise its true potential," he said in the statement. Analysts were also enthusiastic about the purchase, although they said the price was steep. "Overall the purchase makes sense, especially if (Swatch) is trying to expand in the jewelry segment of the market," Kepler analyst Jon Cox told the Dow Jones Newswires. "In addition, Swatch is sitting on a lot of cash though the price certainly doesn't look cheap," he added. Vontobel analyst Rene Weber agreed. "The acquisition, which is pricey, will add 5pc to Swatch sales and it should have a positive impact on earnings this year, as Swatch can pay with cash," he told the Dow Jones Newswires. Following the news, Swatch shares opened slightly down before jumping 1.77pc to 501 Swiss francs a piece in early morning trading on a Swiss market up 0.28pc.