June 7, 2007
Luxury Company Naming is a Miner’s Best Friend
The news that Canadian diamond mining company Aber Diamond Corp was changing its name to Harry Winston Diamond Corp after it's recently acquired retail division makes good sense.
Aber took control of Harry Winston last September and the renaming will better reflect ''the nature of the corporation's activities and in particular the broadening of the corporation's focus to include both retail and mining segments of the diamond industry."
The Harry Winston name, like Tiffany's, is synonymous with "diamonds" and "luxury."
More than that, I believe that Aber is borrowing a page out of diamond giant De Beers's playbook. The secretive South African mining conglomerate has teamed up with the European luxury brand name VMH Moët Hennessy Louis Vuitton and has begun "mining the web" and furiously opening stores in the USA since 2005.
It is quite clear that diamond miners understand that linking their names with luxury retail brand naming is the way forward. Aber's greatest advantage in this case is that Harry Winston is a quintessentially American name, which must irk De Beers, who is working with a suspiciously French and recently unpopular brand name.
Plus, even better, Harry Winston has been around for decades in the USA: Marilyn Monroe mentioned the luxury brand name in her famous rendition of "Diamonds Are a Girl's Best Friend".
Finally, Harry Winston is all about diamonds and just diamonds... while LVMH is also about, eh, luggage and cognac.
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