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RIYADH: Damac Group, an Emirati property development company, has purchased De Grisogono SA, a Swiss luxury jeweler that filed for bankruptcy in early 2020, Bloomberg reported.
Damac also announced that it launched a property project called Safa One by de Grisogono in Dubai, featuring cascading waterfalls, hanging gardens and a manmade-beach on the podium level.
“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,” Sajwani said in a statement on Tuesday.
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