UAE based Damac Group acquires luxury Swiss jewellery brand, de Grisogono

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.

Since its creation in 1993, de Grisogono has created an assertive and highly recognizable style that is expressed through its watch and jewellery collections.

de Grisogono New Retro Watch

De Grisogono has never ceased to produce pieces illustrating the excellence of the Jewellery Art. Technicity, noble materials, extreme attention to detail, use of the latest technologies, top-of-the-range finishes, all these conditions come together in the watchmaking workshops to give de Grisogono watches an exclusive character.

Each creation is unique, while at the same time bearing the distinctive signatures that reflect the spirit of the Swiss maison. 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.

de Grisogono Allegra Bracelet

“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.

A Luxurious Undertaking

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.

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 founder, Grousi. 

Safa One by de Grisogono will feature exclusive attractions such as cascading waterfalls, hanging gardens, and a manmade-beach on the podium level, as well as tropical features spread across the length and breadth of the towers. The interiors will resonate with de Grisogono’s signature style and the essence of emerald across private and public spaces, all adding to the brand’s ubiquitous luxury factor. 

The project will feature two towers featuring luxury, as well as the ‘Prestige Collection’ super-luxury floors.

Paving a Plan for the Future

The Damac Group has been taking interest in expanding their portfolio by adding distressed luxury assets, to turn them over to profit-making investments. The acquisition comes closely after the Dubai-based billionaire purchased Italian fashion house Roberto Cavalli in Q4 2019, and most recently winning the $120 million bid to acquire land in the upscale Miami neighbourhood of Surfside where the developer plans an ultra-luxurious Cavalli branded condominium project.

These acquisitions are part of the Group’s vision to extend its global footprints across sectors and geographies. Currently, the brand portfolio covers high-end fashion, luxury real estate, hospitality, and data centres among more, with a presence in North America, Europe, Asia, Middle East and Africa.

Come into the beautiful world of De Grisogono.

de Grisogono Grappoli S05 Diamonds


The always vèry sympathetic Fawaz Gruosi built De Grisogono’s jewellery reputation on brilliance and opulence. Due to high demand, De Grisogono recently entered the bridal market by launching a line of engagement rings with matching earrings.

On the watch front, the Grappoli S05 is the only timepiece in the bridal collection and its emblematic design stands out comprising a combination of white galuchat(shagreen/stingray) bracelet with briolette-cut stones dangling on the edge of the bezel and a fully-paved dial with an overall tone-on-tone effect.

The full-diamond 36mm de Grisogono Grappoli S05 isn’t a secret watch, but the 62cts of diamond briolettes, combined with the 585 snow-set diamonds on the dial, make it hard to find the grey gold Dauphine hour hands on it. It’s a tiny example of discretion just useful enough to keep a low profile when looking at your wrist during a boring social occasion.





de Grisogono red carpet run-down at Cannes film festival

De Grisogono was founded in Geneva, Switzerland, in 1993 by the always vèry kind and sympathetic black diamond specialist Fawaz Gruosi, an Italian of Lebanese origin.

The Italian name Grisogono derives from Latin Chrysogonus, itself coming from Greek Chrysogonos χρῡσό-γονος, which means ‘begotten of gold’.

Fawaz Gruosi’s unique approach has been proven time and time again, resulting in ground-breaking styles, ideas and approaches that have since been emulated and admired. This has resulted in 22 years of ‘disruptive creations’, namely the art of continually coming up with something unexpected, appealing, original and new.

For the 70th edition of Cannes Film Festival, de Grisogono brought fashion, glamour and unique High Jewellery pieces on the AmfAR’s red carpet. All eyes were on:

Fawaz Gruosi and Sophie Taylor

Sophie Taylor adorned a pair of High Jewellery earrings in white gold set with emeralds and white diamonds as well as High Jewellery ring in white gold set with white diamonds and emeralds.




Elsa Hosk

The Swedish model adorned Boule earrings in white gold set with black and white diamonds as well as a Ventaglio ring in white gold set with black and white diamonds.




Praya Lundberg

The half-Swedish, half-Thai actress and model adorned Boule earrings, ring and bracelet in pink gold set with white diamonds.




Maria Borges


The Angolan fashion model adorned a High Jewellery necklace in white gold set with black and white diamonds, Chiocciolina earrings and ring in white gold set with white diamonds.





Cindy Bruma

The French model adorned a High Jewellery necklace in white gold set with emeralds and white diamonds as well as a ring in white gold set with emeralds and white diamonds.





Sonia Ben Amar

The French model adorned Allegra earrings in pink gold set white diamonds as well as an India necklace in pink gold set with opals and white diamonds.





Rita Ora

The English singer and actress adorned Cochiglietta ring in pink gold set with opals and white diamonds as well as Gocce earrings in pink gold set with pink sapphires.



Come in the beautiful and wonderful world of de Grisogono





De Grisogono Allegra Jewellery Watch

Unveiled during this year’s Cannes Festival, this new creation is ‘a jewel that tells the time’. Fawaz Gruosi has designed a dial composed of a gem-set double square clasping leather thongs that form a colourful strap.

De Grisogono jewellery is a natural extension of founder Fawaz Gruosi’s lifestyle. A charming, sociable jet setter, Gruosi has partied long and hard during the past two decades. His penchant for black diamonds and contemporary, oversized designs has seduced some of the world’s sexiest women, including Sharon Stone, Carla Delevingne, Freida Pinto, Zoe Saldana and Sarah Jessica Parker, and his voluptuous pieces light up the hottest nights, from the Côte d’Azur to Porto Cervo.

Jewellery in Gruosi’s world has to have that unmistakable ‘wow’ factor, and his watches are no exception. Just think back to the glow-in-the-dark Tondo by Night watches or the Sugar watch, which froths with gems spilling over the square case in a display of luxurious decadence.

Fawaz Gruosi designed the first Allegra piece eleven years ago, and this jewellery collection was dedicated to his daughter, Allegra. This collection, a symbol of love of a father to his daughter, offered jewellery creations including rings, bracelets, earrings and pendants.

The vibrant new collection of Allegra watches, complements the existing Allegra collection of rings, bracelets, earrings and pendants, which was named after his daughter. In Gruosi’s words, the Allegra collection is “a symbol – my symbol – of life and love, made of all sorts of ties, some more important than others, but all forever united and entwined”. For the Geneva-based jewellery house De Grisogono, the Allegra collection is one of great symbolism and significance.

De Grisogono’s hallmark square watch case reappears in the new Allegra watch collection, framed by two vertical flanks to create more surface area for the gems or as a means to accentuate the stone-encrusted bezel. White diamonds, amethysts, yellow, orange and pink sapphires, tsavorites, emeralds and spinels illuminate the white lacquered or multi-coloured mother-of-pearl dials.

However, the fun really begins with the unique, cuff-style bracelet, composed of 20 intertwined leather strands in contrasting colours. Inspired by the wristwatches of the 1930s, which were attached by delicate cords, Fawaz Gruosi has given the concept a contemporary twist. The names given to the colours of the leather cords are evocatively accurate: Santa Claus red, Gum pink, Anise, Lime, Canary yellow, Sequoia brown, Rose kiss pink…

To set the night on fire, there is a fully pavéd model, set with 309 diamonds on the case and bezel and 10 white gold cords set with 250 sparklers to contrast with the black licorice strands. Each model is equipped with a Swiss quartz movement, and the cases are available in pink gold, white gold and a dramatic steel version with black PVD coating. Emphasising their genesis, the crown of each watch is set with a signature black diamond. 

Come into the beautiful world of De Grisogono