FINDINGS

ONE OF A KIND: Harry Winston Inc. is seeking to raise its profile as a luxury watchmaker with the introduction of a one-of-a-kind timepiece priced at $1 million.
The watch, called the Galatee, is made of rhodium, a white metal that is 10 times more valuable than platinum. The case of the watch is embellished with 34 baguette-cut diamonds with a total weight of 13.24 carats.
The watch is currently on view at the firm's Fifth Avenue salon in New York, and will be formally unveiled at a cocktail party there tomorrow night. It has already made its European debut at the Harry Winston stores in Geneva and Paris and will travel on to the jeweler's other stores in Beverly Hills and Tokyo before being sold. According to Barbara Kotlikoff, managing director of the retail division of Harry Winston, the company has already received a number of inquiries about the Galatee from prospective buyers.

SETTLING IN: Italian leather goods maker A. Testoni packed its seven-month-old New York store with customers Tuesday night for a cocktail party showing off its new spring-summer handbags and footwear.
Luciano Moresco, president and chief executive officer of A. Testoni's U.S. division, was enthusiastic about the action at the store, located at 665 Fifth Ave. at 53rd Street.
"We're very pleased with this location," Moresco said. "Yes, there's a lot of activity in upscale retailing on Madison Avenue right now, but this spot is right for us because the tourist traffic is an important part of our business. "And with Gianni Versace moving in right near us, it only reinforces our feeling," he added. As reported, Versace is planning to open his third New York store at 647 Fifth Ave. between 51st and 52nd Streets this fall.
A. Testoni company, which has stores in Beverly Hills and Honolulu as well, will also begin intensifying its wholesale business later this year, Moresco said. The target will be upper-end specialty stores.
"We've looked around at all the stores here and the merchandise they carry, and we really feel there is a place for our line," he said.

MONET'S MOMENT: Company executives, state officials and even a member of the Kennedy clan were all on hand last Monday for the official dedication of The Monet Group's newly expanded factory.
The facility in East Providence, R.I., was enlarged by 12,000 square feet--bringing it to a total size of 180,185 square feet--and also redesigned to include a 100-foot-long automatic plating machine and a new waste-water treatment system.
Lincoln Almond, governor of Rhode Island, as well as state director of economic development Marcel Valois, Rep. Patrick Kennedy (D., R.I.) and Judy Harrison, The Monet Group's president and ceo, all addressed the importance of maintaining the state's manufacturing base. The Monet Group plant employs 700 people.

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