PodcastsJan 12, 2026
The latest poscasttest
SourcingApr 17, 2018
De Grisogono to Cut Jobs Amid Disappointing Sales
The Swiss jewelry brand could eliminate up to 41 positions as its high jewelry faces “challenging conditions” in key markets.
De Grisogono said the disappointing sales of high jewelry has led it to cut staff. Pictured here is the brand’s “The Art of de Grisogono, Creation I,” a necklace that was auctioned at Christie’s Geneva last fall.
Zurich, Switzerland--Swiss jewelry brand De Grisogono plans to cut as many as 41 jobs as sales of its high-end pieces have disappointed.
According to a recent report from Reuters, the company will eliminate 31 positions in Switzerland—out of 104 total, about 30 percent of its staff—as well as up to 10 others globally amid “challenging conditions in some key markets,” Reuters said.
The news story also noted the brand will scale back production capacity to reflect the atmosphere and focus on more affordable fine jewelry.
De Grisogono did not respond to a request for confirmation on the Reuters report by press time.
Founded by Fawaz Gruosi in 1993, De Grisogono reportedly is majority-controlled by Sindika Dokolo, the husband of Isabel Dos Santos, the daughter of former Angolan President Jose Eduardo Dos Santos and the richest woman in Africa, according to Forbes.
The former Angolan president came under fire during his tenure for naming family and allies to top business and government posts, and his family’s wealth was often constrasted with the dire poverty of the majority of the country’s citizens.
The reported connection between the Dos Santos family and De Grisogono had gem explorer and dealer Yianni Melas calling for a boycott of the brand across social media and going on a hunger strike in Geneva, Switzerland just as Christie’s was set to auction a De Grisogono necklace featuring a 163.41-carat flawless, D color diamond sourced in Angola.
The necklace sold, though the final buying price—$33.7 million—had some calling the result disappointing and speculating that the high end of the diamond market was struggling.
In late 2017, Angolan state-owned diamond company Sodiam, a subsidiary of national mining company Endiama, divested its stake in the brand as part of new President Joao Lourenco’s goal to distance the country from the business interests of his predecessor’s family.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
Weekly QuizOct 03, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
PodcastsNov 27, 2025
Test Podcast With VideoTest Podcast With Video. New interview with Ada Lovelace.
PodcastsNov 25, 2025
Test New Podcast PostAbstract for tests. New Podcast interview with John Lennon, Jimi Hendrix and Jim Morison.
ColumnistsOct 09, 2024
Peter Smith: 7 Things to Know When Selling LuxuryAhead of the holiday season, Smith delves into the often subconscious reasons people buy luxury products for themselves or their loved ones.
AuctionsOct 09, 2024
Rolex Worn on Apollo 14 Mission Up for SaleThe GMT-Master “Pepsi” belonging to astronaut Edgar Mitchell is a standout in RR Auction’s online “Space Auction,” going on now.
MajorsOct 09, 2024
New Simon Campaign Invites Gen Z to ‘Meet Me At The Mall’The ads celebrate the mall culture of the ‘80s and ‘90s.
MajorsOct 09, 2024
PGI Launches New Virtual Sales TrainingRetail sales associates can access the video series on mobile to refresh their selling skills.
Policies & IssuesOct 09, 2024
GJNRF: Reaching Out, Rebuilding Futures For 25 years, India’s Gem & Jewellery National Relief Foundation has provided aid in the wake of war, natural disasters, and global crises.
AuctionsOct 08, 2024
Sotheby’s Selling Jewelry That Belonged to a Bulgarian TsarThe November auction will feature a collection of jewels owned by Ferdinand I, the first king of modern Bulgaria, and his family.
SurveysOct 08, 2024
What to Know About Online Shopping This Holiday SeasonDeloitte and Adobe Analytics shared their insights on the season, from the retail sales forecast to the role of generative AI.
CollectionsOct 08, 2024
Sylvie Adds New Men’s BandsThe Texas-based jeweler collaborated with luxury clothing brand Uncommon Man on men’s bands designed with European influences.
SourcingOct 07, 2024
Rio Tinto to Offer 76 Diamonds in 2024 Beyond Rare Tender The sales event, in its second year, features a selection of rare diamonds from the miner’s Argyle and Diavik diamond mines.
CollectionsOct 07, 2024
Olympian Kristi Yamaguchi Partners With Heller Jewelers on New CollectionA portion of the proceeds from the “Always Dream” collection will go to Yamaguchi's foundation, supporting early childhood literacy.
SurveysOct 07, 2024
Hill & Co.’s New ‘Business of Jewelry Report’ Is OutThe first in what is slated to be a series of in-depth reports from the consulting company, it focuses on shortening supply chains.
WatchesOct 04, 2024
Watches of Switzerland Clocks Another Acquisition—HodinkeeThe company said Benjamin Clymer will return to his role as head of the watch news website, which will maintain editorial independence.
