In the watch and
jewellery segment, a consortium of Hong Kong - based private investors bought a majority stake in affordable luxury watch
retailer Tic Tac International, valuing the company at close to US$ 100 million; Pandora acquired Spanish
jewellery retailer City Time for a reported $ 110 million; and UK - based Aurum Holdings acquired US luxury watch and
jewellery retailer Mayor's Jewellers for US$ 100 million.