Portfolio
Nature of Business
Founded in 1989, John Hardy (JH) is a leading manufacturer and distributor of authentic, high-end designer jewellery and lifestyle accessories sold under the John Hardy brand name. The products, sold mainly in the US, are hand crafted in Asia and made primarily of gold, silver and semi-precious stones. Reflecting the multi-cultural nature of Balinese society, they are renowned for their superior design and strong appeal to fashion focused, environmentally conscious consumers of luxury brands. JH products are currently sold in all the major department stores including Neiman Marcus, Saks Fifth Avenue and Bloomingdales.
Investment Overview
3i invested €24m for a minority stake in JH. Having backed consumer brands including Gant and Hobbs and worked with family businesses such as Senoble and Williams Lea, we saw a great opportunity to help the business build on its strong foundations to grow its brand and product range internationally.
The family-run firm has grown significantly since being established in 1989 and the founders were seeking to retire, allowing company chief executive officer Damien Dernoncourt and creative director Guy Bedarida to take a majority share in the business, with 3i’s backing.
3i’s involvement has allowed JH to continue its transition from a family run business to a professionally managed company, leveraging the brand that the founders have built and taking it forward to consolidate its position in the fast growing US designer jewellery market.
Through our Business Leaders Network, we have introduced Thaddeus Beczak as Chairman. Thaddeus brings impressive financial and corporate governance experience from his role as Chairman of Nomura Asia Holdings and is playing a key role in the company’s growth.
The company continues to introduce new collections and is looking to continue to grow its sales in the Middle East, Russia and Japan, where the brand already has a growing presence.
