WWRD bought Waterford Crystal’s brand and designs, but not its manufacturing plant. The crystal itself is now manufactured under licence in various locations in Europe.

This week, Pierre de Villeméjane and Anthony Jones announced that WWRD intended to restart production at a new site in Waterford city centre.

The company is taking over part of the old ESB offices, across from the Theatre Royal, and is developing a new visitors’ centre, a shop and a facility that will produce “prestige” pieces.

It will employ 80 to 90 people, including cutters, blowers and other craftspeople. The project will involve a total investment of €25 million, although much of this is being spent by the landlord, Waterford City Council, which had originally intended the building for its own exclusive use.

Mr de Villeméjane was keen to stress this week the role that the council is playing in the project. It is clear the local authority is keen to facilitate crystal production and the development of what will hopefully be a key tourist attraction.

Some of the figures floating around this week give an idea of just how important crystal is to tourism. It is estimated that visitors to the city halved to about 100,000 last year as a result of the fallout from Waterford Wedgwood’s collapse.

That is not to say that WWRD is getting a free ride. It is leasing its part of the premises from the city council and paying for its own fit- out, which will include a two-tonne crystal furnace.

This, the start-up cash required and projected working capital, come to about €5 million, while the total investment involved is at least €10 million.

Mr Jones insisted that the company was not getting it all its own way. “We’ve had some fairly robust conversations with Waterford City Council,” he said.

Craftsmen in the new facility will produce high-end crystal, general one-offs, specially commissioned work and pieces pitched at consumers with deeper pockets, retailing from about $250 and up. WWRD expects that it will generate sales of about $20 million, close to 20 per cent of the $100 million to $115 million annual turnover that the company expects Waterford Crystal to reach.

WWRD intends supporting all brands with an aggressive marketing campaign, something the brands lacked in later years at the old plc. The campaign will focus on maintaining Waterford’s loyal following and attracting newer, younger consumers.