Auctions

Gem Explorer Goes on Hunger Strike to Boycott De Grisogono

AuctionsNov 14, 2017

Gem Explorer Goes on Hunger Strike to Boycott De Grisogono

Yianni Melas is in Geneva, where Christie’s is set to auction off the “The Art of De Grisogono, Creation I.”

20171114_Yianni.jpg
Yianni Melas, gem explorer and trader, is pictured here in front of the Four Season Hotel des Bergues in Geneva, where he has gone on a hunger strike to protest Christie’s auction of a necklace from De Grisogono.
Geneva--A conversation around a Swiss jewelry brand and its backers has arisen, and one gem trader and explorer has gone on a hunger strike in Geneva to raise awareness and boycott the brand.

Today, Christie’s Geneva will auction off “The Art of De Grisogono, Creation I,” a necklace featuring a 163.41-carat flawless, D color diamond at center that was sourced in Angola.

News that the auction house was putting the piece on the block on behalf of the brand revived a conversation that arose on social media earlier this year and led Yianni Melas, of the popular Instagram @gemexplorer, to go on a hunger strike a week ago.

The Background
Fawaz Gruosi founded De Grisogono in Geneva in 1993 along with two associates and has since taken complete control of the company.

Melas initially began a boycott of the brand this summer, after, he says, an industry colleague gave him some information about investors in the brand at Baselworld.

It was then he says he was told that De Grisogono was partly owned by Isabel dos Santos, the daughter of former Angolan President Jose Eduardo dos Santos (he was in the role for 38 years before an election in September named a new president).

There are few articles that have delved into De Grisogono’s ownership in depth, but a 2014 Forbes article helped provide the foundation of Melas’s boycott, building the connection between the brand and Dos Santos. (The article has a shared byline with Rafael Marques de Morais, the Angolan journalist who wrote a book detailing abuses in the diamond fields of Angola and later went on trial for what he wrote).

The New York Times, too, reported in a story it ran in August that the Dos Santos family owns De Grisogono.

According to the Forbes report, a shell company called Victoria Holding Ltd. acquired 75 percent of the De Grisogono brand through a subsidiary in 2012 for more than $100 million. And, according to documents retrieved by the article’s authors, ownership of Victoria Holding Ltd. is split between Angolan state-owned diamond company Sodiam and a Dutch company called Melbourne Investments.

The sole beneficial owner of Melbourne Investments listed is Dos Santos’s husband, Sindika Dokolo. 

At the time, the chairman of De Grisogono told Forbes that, “No public funds or resources, namely from the Angolan state or Angolan state-owned companies, have been involved, directly or indirectly.”

National Jeweler has been in touch with De Morais about his Forbes article but wasn’t able to get more information about his investigation and reporting in time for this article. 
The Connection
So what exactly was it that led Melas to start his boycott this summer?

He told National Jeweler at the time that he couldn’t believe the topic hadn’t come up in the industry before, or that it was a brand the industry continued to welcome and that celebrities were donning.

Specifically, he wanted to and still wants to bring attention to the lives of the people in Angola and the corruption of its leaders.

Isabel dos Santos is Africa’s richest woman, with a current estimated worth of $3.4 billion, according to Forbes, which noted that, though her representatives deny that her holdings are connected to her father, it found through its research at the time that he transferred stakes in several Angolan companies to her. She has known assets in the oil and gas sectors.

Angola as a country receives an immense wealth from oil and, of course, diamonds. According to the Kimberley Process’s numbers, the country’s diamond production was valued at nearly $1.8 billion in 2016.

Yet it remains an extremely poor country, one of the most dangerous for children due to malnutrition and a lack of medicine and resources that has led to a high infant and under-five mortality rate--a topic covered extensively by New York Times reporter Nicholas Kristoff in 2015--and also has a low life expectancy for its adults.

And though it’s been part of the Kimberley Process since 2003, even serving as chair in 2015, there are some companies and brands that already refuse to buy diamonds sourced from the African country. Tiffany & Co., for example, has said it won’t buy Angolan diamonds and backed journalist De Morais during his trial.

Offah Obale, the conflict minerals researcher at Impact, the NGO formerly known as Partnership Africa Canada, had this to say about Angola: “A large percentage of (Angola’s) output comes from informal alluvial diamond production and relies on the workforce of thousands of artisanal miners. This lack of formalization impacts the traceability of minerals from the mine suite to the point of export. It also contributes to the ability of people to smuggle and take advantage of weak internal controls.”

He added that, “Due to vulnerabilities in the diamond supply chain, it is important for the diamond industry and the Angolan government to add additional due diligence to the diamond supply chain through the adherence of the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas. Doing so would foster greater transparency and oversight of diamonds produced in the country.”

The Response
It’s the poor standard of living in a country so vital to the industry--and in which most of the wealth goes to a very small segment--to which Melas has said he wants to bring attention with his boycott of the brand and, now, his hunger strike around the auction.

National Jeweler reached out to Christie’s for comment.

Rahul Kadakia, the auction house’s international head of jewelry, said: “Christie’s is pleased to be working together with De Grisogono to offer this incredible jewel in an innovative way for both brands. The necklace has been made specifically by the highly creative team at De Grisogono for Christie’s Magnificent Jewels auction in Geneva, around the largest D Flawless diamond ever to be offered at auction. Each of us is lending our own expertise to the project, and we have been working together since February to present this masterpiece to our top collectors.”

The auction house declined to comment on the alleged connection between the brand and Angolan leadership.

National Jeweler also spoke with De Grisogono Marketing Director Gianluca Maina, who said because they are a Swiss-registered company, and thereby operating in a tight regulatory environment, they won’t comment on the ownership of the brand.

“Our shareholders are, of course, scrutinized and analyzed by the Swiss authorities, because we need to be transparent with regards to Swiss authorities with who our shareholders are. But we don’t publicly comment on that.”

Maina said that De Grisogono emphasizes being transparent on sourcing and compliant with the Kimberley Process, adding: “We are very saddened by the allegations created around the brand, because they don’t correspond to the truth. As a responsible company, we’re doing and we’re trying to do everything possible to be a socially responsible and ethically responsible brand.”

The brand confirmed to National Jeweler that if “The Art of De Grisogono, Creation I” sells, its partner, Dubai-based diamond trading company Nemesis International, will donate a proportion of the proceeds to fund the building of a school and a health center benefitting the local community in the Lulo region, where the 404-carat rough used to create the center stones was uncovered, though it didn’t give details beyond that. 

Maina told National Jeweler the donation was agreed to last year--before Melas began his boycott movement--noting that it “supports our belief that it is important to give back directly to the communities from which our stones originated.”

But Melas has told National Jeweler that if De Grisogono doesn’t decide to donate all proceeds of the piece, he will continue his hunger strike after the sale has ended. 

He told National Jeweler this week, “I believe, at least in my opinion, that the people out there need to understand, we as individuals who are a part of the trade are against the corruption.”

Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

The Latest

Stock image of person holding shopping bags
Events & AwardsOct 29, 2025
October Brings Little Change to Consumer Confidence

Consumers are feeling more optimistic about their present situation while the short-term future remains a little scary.

Couture show
Events & AwardsOct 29, 2025
Couture Partners With Time to Watches

The company, which organizes a watch show in Geneva every spring, will bring a selection of watch brands to the 2026 Couture show in Vegas.

The Modern Guide to Vintage Jewelry by Beth Bernstein
TrendsOct 29, 2025
Beth Bernstein Releases Vintage Jewelry Guide

“The Modern Guide to Vintage Jewellery” follows the evolution of jewelry design from the ‘30s to the ‘80s with buying and styling advice.

Supplier Spotlight -Recorded-Webinar.png
Brought to you by
Watch: Introducing GIA Jewelry Services

Supplier Spotlight Sponsored by GIA

Collage of bug jewelry
EditorsOct 29, 2025
Why Creepy, Crawly Bugs Inspire Beautiful Jewelry

For her annual Halloween story, Senior Editor Lenore Fedow explores the symbolism behind spiders, beetles, and other eerie insects.

Weekly QuizOct 16, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Gem Awards 2025 at Cipriani New York
Events & AwardsOct 28, 2025
Meet the 2026 Gem Award Nominees

Notable jewelry designers, members of the press, and retailers are up for an award at next year’s gala.

Graphic for Jewelers of America’s 2025 State of the Industry webinar
Recorded WebinarsOct 28, 2025
Watch: The State of the Jewelry Industry

Leaders from Jewelers of America and National Jeweler discuss the gold price, tariffs, and more in this one-hour webinar.

DEBEERS_DAY4_DSC_1023-01_1872x1052.jpg
Brought to you by
DESERT DIAMONDS: The Newest Trend in Natural Diamond Jewelry

From sunlit whites to smoky whiskeys, introduce your clients to extraordinary diamonds in colors as unique as their love.

Eriness One of One Collection Rings and Necklace
CollectionsOct 28, 2025
Eriness Reflects on Life in ‘One of One’ Collection

After experiencing motherhood, growth, and loss, founder and designer Erin Sachse has created 10 irreplaceable jewels.

Marie Louise’s emerald necklace and earrings stolen in the heist at the Louvre Museum
CrimeOct 27, 2025
Arrests Made in Louvre Jewel Heist

One of the individuals was apprehended at the airport as he was trying to flee the country.

Holiday shoppers in Target
MajorsOct 27, 2025
Target to Cut 1,800 Corporate Jobs

The retailer, which has faced struggling sales in recent quarters, is looking to streamline its operations.

Hill Management Group
Events & AwardsOct 27, 2025
Hill Management Group Hired to Help Atlanta Jewelry Show

Hill Management Group will oversee, market, and produce next year’s spring show.

De Beers Diamond View Zoom machine with monitor
GradingOct 24, 2025
DMIA to Hold Diamond Testing Instrument Demo

The workshop will give attendees the chance to try out and ask questions about three different diamond verification instruments.

Two brooches stolen in the October 2025 heist at the Louvre Museum in Paris
CrimeOct 24, 2025
Video Emerges of Louvre Jewelry Robbers Fleeing the Scene

The footage shows two of the jewelry heist suspects descending from the second floor of the museum and then escaping via scooter.

Wyld Box Jewelry Ray of Light Large Drop Earrings
CollectionsOct 24, 2025
Piece of the Week: Wyld Box Jewelry’s ‘Ray of Light’ Earrings

Founder and designer Rosanna Fiedler looked to a vintage Cartier clutch when designing the sunlight-inspired drop earrings.

Tiffany & Co. Bird on a Rock pendant
FinancialsOct 23, 2025
Jewelry Sales Resilient Despite Struggles at LVMH, Kering

The luxury conglomerates faced a challenging Q3 amid geopolitical and economic tensions.

Cullinan Diamond Mine plant
SourcingOct 23, 2025
Petra Diamonds Turns to Shareholders to Raise Capital

The struggling diamond mining company, which owns the historic Cullinan mine, has launched a rights issue to raise about $25 million.

Million Dollar Hip Hop Watches by Leon Schäfers, Jeanette Lang, Tobias Kargoll
WatchesOct 23, 2025
‘Million Dollar Hip Hop Watches’ Recounts Watch History

The book details the journey of watches as symbols of hard-earned success in hip-hop for artists like 2Pac, Jay-Z, and more.

Alexis Vourvoulis
AuctionsOct 23, 2025
Freeman’s | Hindman Names New VP, Senior Specialist for Jewelry & Watches

Alexis Vourvoulis, who most recently worked at Tiffany & Co., brings more than two decades of jewelry experience to her new role.

Taylor Swift engagement ring Greenwich St
TrendsOct 22, 2025
The Taylor Swift Effect: Antique Diamonds Edition

The superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.

Rahaminov Diamonds Emerald-Cut Diamond Bracelet
TrendsOct 22, 2025
Don’t Forget These Diamond Jewelry Trends When Stocking for the Holidays

Retailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.

Fancy vivid purplish pink diamond
AuctionsOct 22, 2025
Pink Diamond, Vanderbilt Jewels to Headline Phillips’ Geneva Auction

The nearly 7-carat fancy vivid purplish pink diamond could sell for around $9 million.

“Storied Diamond Desert Sands of Eternity” engagement ring and wedding band
SourcingOct 22, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey

The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.

Tiffany & Co. Bird on a Rock by Tiffany High Jewelry Lariat
CollectionsOct 22, 2025
Tiffany & Co.’s ‘Bird on a Rock’ Finds New Perch

Chief Artistic Officer Nathalie Verdeille has reimagined the iconic design in both figurative and abstract creations.

Jewelers for Children Halloween contest
Events & AwardsOct 22, 2025
JFC Kicks Off Halloween Costume Challenge

Five dollars buys one vote toward an industry professional you want to see dressed up as a hero, or a villain, this Halloween.

Hillsborough show
Events & AwardsOct 22, 2025
Hillsborough Antique Show Gets New Owner

Recently acquired by KIL Promotions, the November edition of the public show in San Mateo, California, will be held Nov. 7-9.

Bicolor pink and colorless diamond
GradingOct 21, 2025
GIA Examines Rare Bicolor Pink Diamond

The stone’s two zones, one pink and one colorless, may have formed at two different times, the lab said.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy