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News & Highlight


  • Image: Creation 1 necklace defining ‘The Nature of Luxury’ (DAMAC Group)


With an intention to expand into the luxury and high-end fashion worlds, Dubai-based property development company DAMAC Group acquired de GRISOGONO, a luxury Swiss jewellery brand, for an undisclosed price on 31 May 2022. 


The brand was identified by Hussain Sajwani, founder and chairman of the DAMAC Group, who was also the top bidder amongst several others bidding to acquire the brand.


Headquartered in Geneva, Switzerland, de GRISOGONO, was established in 1993 by Fawaz Gruosi. Over the past 30 years, the brand earned a reputation with its signature use of black diamonds.


de GRISOGONO is most known for its Creation I necklace, which featured the largest 136.41-carat D flawless diamond in the world and fetched a staggering $33.7 million at Christie’s Geneva in 2017. The jeweller has adorned many celebrities on the red-carpet including Hollywood actress Natalie Portman and supermodel Naomi Campbell.


Shortly after acquiring the Swiss brand, the DAMAC Group announced the launch of a twin-project featuring a design inspired by the well-known Creation I design. Defining ‘The Nature of Luxury’, the project will bring to life the masterpiece that was created by de GRISOGONO’s founder, Grousi. 




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