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Dubai-based Damac Group Buys Swiss Jeweler De Grisogono

De Grisogono filed for bankruptcy in 2020
Diamonds and money bills
Credit: Africa Studio

De Grisogono, which filed for bankruptcy in 2020, has been purchased by the Dubai-based Damac Group “for an undisclosed sum,” according to IDEX Online.

 

De Grisogono was hot with A-list celebrities, among them actress Natalie Portman and supermodel Naomi Campbell, and is well-known for its Creation I necklace, featuring the largest D/IF diamond in the world, which sold for $33.7 million at Christie’s Geneva in 2017. 

 

In January 2020, De Grisogono was named in the “Luanda Leaks” investigation as being part of a money laundering scandal involving Angola’s Isabel dos Santos. In January 2020, de Grisogono filed for bankruptcy.

 

Billionaire Hussain Sajwani, Damac’s founder and chairman, commented: “I believe that we will be able to bring the brand to a justifiable success, by strengthening its global development and network.”

 

Naomi Campbell
Credit: GoncharukMaks / Shutterstock.com


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