De Grisogono made jewels for celebrities — its shareholders' scandal made it toxic

De Grisogono was founded in Geneva in 1993 by Fawaz Gruosi and became one of the most flamboyant names in high jewellery — black diamonds, extravagant galas, celebrity clients on the Cannes red carpet. The brand's majority shareholders were members of Angola's most powerful family, whose investment gave De Grisogono the capital to compete with houses a century older.

When the shareholders became the subject of a corruption investigation — the 'Luanda Leaks' exposé — the association became a liability. Financial support was withdrawn, and De Grisogono could not find a buyer. In January 2020 the company filed for bankruptcy in Geneva, insolvent. A brand that had dressed the world's most famous people could not survive the disappearance of the money behind it.

De Grisogono's story is not about jewellery; it is about ownership. The brand's product, craft and clientele were real. What was not real was the assumption that a single shareholder's capital — capital whose origin was now under investigation — was a foundation a business could be built on.