Business

Harry Winston might sell the family jewels

(
)

Harry Winston is the marrying kind.

Shares of the fabled diamond merchant soared as much as 11 percent yesterday on reports it was in talks to sell its chain of swanky stores.

Harry Winston shares gained 4.7 percent to close at $14.18 after Reuters reported that the company had approached European luxury giants LVMH and PPR about a possible sale.

Sources told The Post that Harry Winston, famous for its baubles with six- and seven-digit price tags, has been approached by prospective suitors throughout the past year.

The pricey brand — made famous in the 1950s when Marilyn Monroe referred to it in the song “Diamonds Are A Girl’s Best Friend” — hadn’t actively approached potential bidders as of this summer, said one person close to the situation.

French conglomerate PPR owns the jeweler Boucheron but has signaled it is looking to bulk up its jewelry holdings. Likewise, LVMH is said to be interested in expanding its jewelry investments even after acquiring Bulgari last year.

Insiders said Chairman Bob Gannicott — who merged Harry Winston in 2004 with his Canadian mining company in a deal valued at $284 million — is considering selling the Harry Winston brand to raise capital as he weighs the purchase of other big diamond mines.

Selling the Harry Winston brand could be lucrative, as it has since multiplied in value by expanding its chain worldwide, giving the company a market capitalization of $1.2 billion.