AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
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
Events & AwardsMay 15, 2026
JA, MJSA To Sponsor Roundtable at TJSThe discussion, "Rebuilding the Jewelry Workforce," will take place on Saturday, May 16, in Troy, Michigan.
AuctionsMay 14, 2026
White Diamonds Lead Sotheby’s Auction, Blue Diamond Does Not SellA matching pair of 18.38-carat, D-color diamonds from Botswana’s Jwaneng mine sold for $3.3 million, the top lot of the jewelry auction.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
Supplier BulletinMay 14, 2026
A Diamond Is Forever Continues Desert Diamonds – Bridal ReinvigoratedSponsored by A Diamond Is Forever
Weekly QuizMay 14, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsMay 14, 2026
‘Ocean Dream’ Makes Waves at Christie’s, Fetching $17MIt was the second auction appearance for the fancy vivid blue-green diamond, which sold for $7.8 million at Christie’s Geneva 12 years ago.
CrimeMay 14, 2026
Second Man Arrested in Florida Pawn Shop Shooting Members of the U.S. Marshals Task Force took a 22-year-old man into custody. He was charged with tampering with evidence.
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.
CrimeMay 13, 2026
JSA’s 2025 Crime Report Shows ‘Concerning’ Rise in ViolenceWhile the overall number of crimes was down, there were more incidences in which robbers pulled out guns, mace, or rammed cars into stores.
IndependentsMay 13, 2026
New Orleans Jeweler Closing Canal Place StoreJack Sutton Fine Jewelry is closing its store inside the downtown shopping center after 40 years in business.
SourcingMay 13, 2026
Smithsonian Acquires ‘Winston Red’ Diamond PaintingReena Ahluwalia’s painting of the rare red diamond is the first contemporary painting to join the National Gem Collection.
TrendsMay 13, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
ColumnistsMay 12, 2026
It’s Official: We’re Getting ‘Brain Rot’ From Watching Short-Form Videos Peter Smith gives tips on leading meetings, developing marketing, and making trade show appointments in the age of short attention spans.
CollectionsMay 12, 2026
Jessica McCormack Debuts Antique Coin-Inspired Medallions for SummerThe 11-piece “Medallions” capsule collection features five motifs: a crying eye, a heart on fire, a spiral, a flower, and a swallow.
IndependentsMay 12, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsMay 12, 2026
The Tiffany & Co. x CFDA Jewelry Designer Award Is BackThe partners have announced the second cycle of the program, which has expanded to include a $25,000 student scholarship.
IndependentsMay 11, 2026
Kansas Jeweler Closing After 70 YearsThe owners of Staats Jewelers are heading into retirement.
TrendsMay 11, 2026
Former Macy’s CEO Joins Signet Jewelers BoardJeffrey Gennette, who retired in 2024 after 41 years with Macy’s, is the newest member of the jewelry retailer’s board of directors.
TrendsMay 11, 2026
Amanda’s Style File: Lucky May May babies are lucky to have emeralds, a gemstone admired for centuries, as their birthstone, writes Amanda Gizzi.
TechnologyMay 11, 2026
Clientbook’s New Tool Helps Jewelers Plan In-Store EventsThe new module allows retailers to plan, promote, and measure the success of events from a single dashboard.
Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
SourcingMay 08, 2026
Ronnie VanderLinden Takes Over as WDC President The diamantaire and industry leader succeeds Feriel Zerouki and said he will focus on being a “champion” for natural diamonds.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
Events & AwardsMay 08, 2026
JA Announces 2026 CASE Award WinnersTwo pieces were named “Best in Show,” one from the retail category and one from the supplier category.
FinancialsMay 07, 2026
Brilliant Earth Appeals to Higher-Income Shoppers in Q1The jewelry retailer noted resilience among its higher-end customers while demand softened for its lower-priced offerings.
AuctionsMay 07, 2026
‘Spectacular’ Kashmir Sapphire Headlines Heritage Spring Jewelry SaleLed by the 6.59-carat sapphire, the sale garnered $9.7 million, a record total for a Heritage jewelry auction.
MajorsMay 07, 2026
Gannon & Scott Names New Regional Account ExecutiveIn his new role, sales specialist Billy Welshoff will focus on the eastern United States.
