DUBAI,, Dubai's DAMAC Group has purchased celebrated Swiss jewellery brand, de GRISOGONO. The brand, which filed for bankruptcy early 2020, was identified by Hussain Sajwani, Founder and Chairman of the DAMAC Group, who became the top bidder amongst several others bidding for the acquisition.
Most known for its 'Creation I' necklace, which featured the largest D flawless diamond in the world and fetched a staggering $33.7 million at an auction in 2017, de GRISOGONO is a name synonymous with glamour. The jeweller has adorned many celebrities on the red-carpet including Hollywood actress Natalie Portman and supermodel Naomi Campbell.
"Keeping in line with our ambitions to expand our business into the luxury and high-end fashion realm, bidding for de GRISOGONO came to us naturally. A relatively young, but established brand it has immense potential that needs to be uncovered and leveraged. I believe that with DAMAC's expertise and know-how, we will be able to bring the brand to a justifiable success, by strengthening its global development and network," says Sajwani.
