Dubai Billionaire Sajwani Buys Bankrupt Swiss Diamond Jeweler

A Baby Grappoli luxury wristwatch made by De Grisogono. — A Baby Grappoli luxury wristwatch made by De Grisogono.
Photographer: Michele Limina/Bloomberg

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By Adveith Nair

May 31, 2022 at 1:02 PM UTC

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Billionaire Hussain Sajwani’s Damac Group has purchased De Grisogono SA, a Swiss luxury jeweler that filed for bankruptcy early 2020, as part of the Dubai firm’s expansion into high-end fashion.