IndependentsApr 23, 2026
Windsor Jewelers Names New Buying DirectorNatalie Feanny has been appointed to the role.
SourcingDec 06, 2017
Angolan State-Owned Diamond Co. Backs Out of De Grisogono
Sodiam said it is divesting a stake in the Geneva-based brand for “reasons of public interest and legality.”
Angolan state-owned diamond company Sodiam has announced that it will divest a stake in Geneva-based jewelry brand De Grisogono. Pictured here is “The Art of De Grisogono, Creation I,” which went up for auction last month at Christie’s.
Luanda, Angola--An Angolan state-owned diamond company is pulling its investment in a Swiss jewelry company with ties to the country’s former first family.
Bloomberg reported Tuesday that Sodiam, a subsidiary of Endiama, the country’s national mining company, announced it would divest its stake in Geneva-based De Grisogono after a board meeting Dec. 1, saying it was doing so for “reasons of public interest and legality.” It did not give details on how the transaction would be completed.
De Grisogono reportedly is 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 move from Sodiam comes as newly elected Angolan President Joao Lourenco aims to distance the country from the business interests of his predecessor’s family. He has removed Isabel as head of Sonangol, Angola’s state oil company, and announced plans to auction a new telecoms license to compete with Unitel SA, which she controls.
Though De Grisogono doesn’t normally comment on its ownership structure, Marketing Director Gianluca Maina sent the following statement to National Jeweler via email following Sodiam’s announcement.
“Following a recent change in their leadership, Sodiam, a minority shareholder, has announced its intention to exit as an investor in De Grisogono,” he told National Jeweler via email. “This decision won’t have any impact on our majority shareholders who have reconfirmed their continued commitment to our brand and its future and we continue to have strong financial support.”
He added that over the last four years, De Grisogono has increased marketing investment in the brand, added diamond products, moved to a new headquarters and opened new boutiques to expand its international footprint. “As a result De Grisogono today is stronger than ever--with more visibility, better boutiques and incredible stock--and we are starting to reap the benefits of this investment.”
De Grisogono’s connection to Angola’s former first family led gem explorer Yianni Melas to go on a hunger strike recently in Geneva, where he was boycotting not only the brand but also Christie’s auction of the “The Art of De Grisogono, Creation I,” a necklace featuring a 163.41-carat flawless, D color diamond at center that was mined in Angola.
Melas has been calling for a boycott of the brand since this spring, using his his Instagram account to help raise awareness.
When the necklace sold for $33 million (including buyer’s premium),
Editors' Picks
Sponsored by
the brand announced its partner, Nemesis International, would donate 1 percent of the of the hammer price to the foundation Fundação Brilhante, an organization championing social change in the areas surrounding mines in Angola.
The low amount of the donation spurred Melas to continue his hunger strike in Athens, eventually extending it to a total of 30 days to represent the total the necklace sold for (minus buyer’s premium), he told National Jeweler. He has two days remaining.
The low amount of the donation spurred Melas to continue his hunger strike in Athens, eventually extending it to a total of 30 days to represent the total the necklace sold for (minus buyer’s premium), he told National Jeweler. He has two days remaining.
More on Sourcing
The Latest
CrimeApr 22, 2026
New Mexico Couple Pleads Guilty to Selling Fake Native American JewelryThe pair falsely claimed their jewelry was made by Navajo artists, but it was imported from Vietnam.
AuctionsApr 22, 2026
Roberta Flack’s Jewelry Is Going Up for AuctionJulien’s Auctions is selling the musician’s fine and fashion jewelry alongside her clothing, gold records, and other memorabilia.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
CollectionsApr 22, 2026
British Museum Curator Pens Book on ‘The Tudor Heart’Rachel King’s book dives into the history of the pendant believed to have belonged to Henry VIII and his first wife, Katherine of Aragon.
Weekly QuizApr 16, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsApr 22, 2026
Here’s What Sy Kessler Has on Tap for Las Vegas The company will have deals on precious metals testers as well as the latest in lab-grown diamond detection technology and security.
WatchesApr 21, 2026
Coco Chanel Enters the Game with New Watch CollectionGabrielle “Coco” Chanel is a character in the “Coco Game” collection of watches and the queen in its first haute horlogerie chessboard.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
IndependentsApr 21, 2026
Meet Jewelers of America’s 2026 ‘20 Under 40’ ClassThe annual list honors rising professionals on the retail and supply sides of the jewelry industry.
CrimeApr 21, 2026
Customs Nabs 1,500 Pieces of Counterfeit Jewelry Bound for NYCSeized in Kentucky, the packages include fake Cartier, Tiffany & Co., Chanel, and Fendi jewelry.
CrimeApr 20, 2026
Queens Man Convicted in Bludgeoning Death of Pawn Shop OwnerRodolfo Lopez-Portillo faces 25 years to life in prison after being found guilty in the March 2022 beating death of Arasb Shoughi.
TrendsApr 20, 2026
Beth Bernstein, Sonia Esther Soltani Pen New Jewelry Book“Jewelry Creators: Dynamic Duos and Generational Gems” highlights the relationships among 22 influential designers, brands, and gem dealers.
Events & AwardsApr 20, 2026
Atlanta Jewelry Show’s Spring Event Is Hitting the RoadThe AJS Spring 2027 show will be held in Savannah, Georgia, with future shows taking place in other Southeast cities.
MajorsApr 20, 2026
Kendra Scott Names New CFO, Chief Business OfficerThe jewelry retailer plans to open 20 new stores this year and expand into new product categories.
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
MajorsApr 17, 2026
QVC Group Files for Chapter 11 BankruptcyThe retailer reported an 8 percent decline in annual sales as it struggles under the weight of billions of dollars of debt.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
MajorsApr 16, 2026
Stuller’s Latest Mountings Catalog Is Out NowThe “Mountings 2026-2027” catalog showcases Stuller’s largest and most diverse assortment to date with more than 400 new mounting styles.
PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
MajorsApr 15, 2026
Spark Creations’ Randy McKenzie Dies at 72 McKenzie spent 45 years with Spark Creations and is remembered for being kind, dedicated, and hardworking.
WatchesApr 15, 2026
These Are the New Rolex Watches for 2026Rolex focused exclusively on the Oyster Perpetual this year, as the model is celebrating its 100th anniversary.
FinancialsApr 15, 2026
Kering’s Jewelry Shines in Q1, Gucci’s Struggle ContinuesThe luxury giant discussed the Middle East conflict and its transformation plans, hinting at a stronger jewelry presence in North America.
TechnologyApr 15, 2026
This Jewelry Brand’s Video Series Is Up for a Webby Award“Diamond Divas,” a social media reality series by Shahla Karimi Jewelry, is nominated in the “Best Social: Fashion & Beauty” category.
FinancialsApr 14, 2026
LVMH’s Q1 Sales Sink 6% Amid Middle East ConflictPlus, how Saks Global’s bankruptcy affected the luxury giant’s first quarter.
