The Dubai-based Damac Group has acquired De Grisogono, which filed for bankruptcy in 2020, for “an undisclosed price,” according to IDEX Online.
De Grisogono was popular among A-list celebs, including Naomi Campbell and Natalie Portman, and is well-known for its Creation I necklace, which had the biggest D/IF diamond in the world and sold for $33.7 million at Christie’s Geneva in 2017.
De Grisogono was implicated in a money-laundering case involving Isabel dos Santos of Angola in the “Luanda Leaks” probe in January 2020. De Grisogono filed for bankruptcy in January 2020.
Damac’s founder and chairman, billionaire Hussain Sajwani, said: “I think we can make the brand successful in a way that is justifiable.
