Dubai – Mubasher: DAMAC Group has purchased the Swiss jewellery brand, de GRISOGONO, to strengthen the jeweller’s distribution network and development worldwide.
The acquisition comes in line with the group’s vision to scale its global presence across several sectors, according to a press release on Tuesday.
Established in Geneva in 1993 by Fawaz Gruosi, de GRISOGONO filed for bankruptcy in 2020.
Following its acquisition of the Swiss brand, DAMAC launched a twin project featuring a design inspired by de GRISOGONO’s ‘Creation I’ design.
The Founder and Chairman of the DAMAC Group, Hussain Sajwani, said: "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."
