Fourth Luxury Brand For Waterford Wedgwood

Wedgwood plans to buy the leading American luxury cookware brand, All-Clad, for $110m. The acquisition will be the latest stage in the company's strategy to create what it calls the world's largest "luxury living business". It will become the fourth of the company's brands alongside Waterford, Wedgwood and Rosenthal. All-Clad will be marketed through its existing supplier network, which includes leading department stores. It will be launched in Europe and Japan next year. The purchase, expected to be completed by early July, aims to capitalise on predicted growth of 18% a year in the luxury cookware market. All-Clad, which made $51.6m sales and $9.7m profit last year, is owned by a private equity company and its management. (whole item)