{"id":22940,"date":"2022-06-01T10:59:23","date_gmt":"2022-06-01T10:59:23","guid":{"rendered":"https:\/\/damacofficial.com\/hussainsajwani\/?p=22940"},"modified":"2025-06-23T05:46:55","modified_gmt":"2025-06-23T05:46:55","slug":"dubais-damac-group-acquires-swiss-luxury-brand-de-grisogono","status":"publish","type":"post","link":"https:\/\/damacofficial.com\/hussainsajwani\/dubais-damac-group-acquires-swiss-luxury-brand-de-grisogono\/","title":{"rendered":"Dubai&#8217;s DAMAC Group Acquires Swiss Luxury Brand De Grisogono"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Originally published in&nbsp;<a href=\"https:\/\/www.thenationalnews.com\/business\/property\/2022\/05\/31\/dubais-damac-group-acquires-swiss-luxury-brand-de-grisogono\/\">The National<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Damac Group, the Dubai-based parent group of Damac Properties, has acquired Swiss jewellery brand de Grisogono, further diversifying its holdings.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Dubai developer, which purchased Italian fashion house Roberto Cavalli&nbsp;<a href=\"https:\/\/www.thenationalnews.com\/business\/property\/damac-chairman-confirms-buy-out-of-roberto-cavalli-business-1.944121\" target=\"_blank\" rel=\"noreferrer noopener\">in 2019<\/a>, did not disclose the price of the deal.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">De Grisogono filed for bankruptcy in 2020. Its acquisition is part of Damac\u2019s strategy to expand its portfolio by adding distressed luxury assets and making them profitable, the developer said on Tuesday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cKeeping 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,\u201d said Hussain Sajwani, founder and chairman of the Damac Group.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cA relatively young, but established brand it has immense potential that needs to be uncovered and leveraged. I believe that with Damac\u2019s expertise and know-how, we will be able to bring the brand to a justifiable success, by strengthening its global development and network.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Damac has already linked up with de Grisogono for the Safa One twin tower project in Dubai, situated on the edge of Safa Park, which has been designed to replicate a masterpiece necklace.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Damac said the theme of the project is \u201cThe Nature of Luxury\u201d, with lush garden terraces and hanging gardens, an artificial beach and swimming pool.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tower A, the taller of the two tower blocks, will have an urban tropical island \u201cwith cascading waterfalls, plentiful plants, as well as the sounds and sights of exotic birds\u201d.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">One, two and three-bedroom apartments will be available on the luxury levels, while super luxury levels will feature two, three, four and five-bedroom apartments. Prices start at Dh1.6 million ($435,970).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Damac also recently won a $120m bid to acquire land in the upscale Miami district of Surfside, where it plans to build an ultra-luxurious, Cavalli-branded condominium project.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">De Grisogono, which was established in 1993 by Fawaz Gruosi, is known for its \u201cCreation I\u201d necklace, which featured the largest D flawless diamond in the world and fetched $33.7m at an auction in 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Originally published in&nbsp;The National Damac Group, the Dubai-based parent group of Damac Properties, has acquired Swiss jewellery brand de Grisogono, further diversifying its holdings. The Dubai developer, which purchased Italian&hellip;<\/p>\n","protected":false},"author":1,"featured_media":22941,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194],"tags":[],"class_list":["post-22940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dubai&#039;s DAMAC Group Acquires Swiss Luxury Brand De Grisogono - Hussain Sajwani<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dubai&#039;s DAMAC Group Acquires Swiss Luxury Brand De Grisogono - Hussain Sajwani\" \/>\n<meta property=\"og:description\" content=\"Originally published in&nbsp;The National Damac Group, the Dubai-based parent group of Damac Properties, has acquired Swiss jewellery brand de Grisogono, further diversifying its holdings. 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