Dezeen has confirmed that luxury design brand Georg Jensen been purchased by the Bahrain-based investment bank Investcorp for $140 million. The Danish company, originally founded by silversmith Georg Jensen in Copenhagen in 1904, is known around the world for its high-end silverware and jewelry.
Hazem Ben-Gacem, Investcorp's head of European corporate investment, told Dezeen; “Georg Jensen stands to become one of the leading hard luxury brands of the 21st century, leveraging a brand legacy going back more than 100 years and a unique Danish design DNA."
Investcorp reportedly plans to expand the company by introducing the brand in growing luxury markets across Asia, with speculation for tremendous growth in China especially. The Bahraini company gained its reputation in the design world when it appointed Tom Ford as creative director at Gucci 1988, a move which revitalized the flagging Italian brand. The company has also previously worked with the famed Tiffany & Co. jewelry company. If past successes are any indicator, the design world can expect to see much more from the Georg Jensen brand in the years to come.
Source courtesy Dezeen.