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

Pippa Small Myanmar Fish Cluster
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’

Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.

Casio America CEO Yusuke Suzuki
MajorsAug 14, 2025
Casio America Names New CEO

Longtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.

LA Trading Day
SourcingAug 14, 2025
West Coast Orgs to Host Trading Event, Mixer in LA

The full-day sourcing and networking event, slated for Aug. 18, will be followed by the fifth annual Mega Mixer Summer Soirée.

rio-article photo-diamond.jpg
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine Jewelry

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Cristiano Ronaldo and Stephanie Gottlieb Ring
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut Diamond

Model Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.

Weekly QuizAug 08, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
International Colored Gemstone Association logo
SourcingAug 13, 2025
ICA Names 2025 Board of Directors

The board elected 9 new directors at its recent ICA Congress in Brazil.

Whiskey Barrel Ring
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring Giveaway

Three winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

People shopping in a mall
SurveysAug 13, 2025
These Are The 25 Hottest Retailers, Says NRF

JD Sports and Wawa were among the fastest-growing retail companies in the U.S. last year.

Columbia Gem House Winza sapphires and rubies
SourcingAug 13, 2025
Columbia Gem House Launches Winza Sapphires, Rubies

The new inventory, all untreated, features vibrant hues and unique bicolor combinations.

Gemfields Faberge
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50M

Acquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.

Shipping containers on a ship
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump Says

President Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.

Jacquie Aiche Thunderbird Slab Collection Campaign
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the Thunderbird

The “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.

Duvall O’Steen and Jen Cullen Williams
ColumnistsAug 12, 2025
Creative Connecting: How to Take a Better Headshot

Columnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.

Vigil for slain Wheat Ridge, Colorado jeweler Peter Damian Arguello
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado Jeweler

Peter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.

Lisa Bridge
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge Jeweler

The retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.

Bethenny Frankel
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience Show

The Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.

Nora Kühner fashion design consulting trend forecast colors 2027
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple Years

Associate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.

Brilliant Earth Jolie Mosaics engagement ring
FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales Rise

The company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.

Jewellers for Hope charity event
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of Fundraising

The organization has raised more than $1.3 million for charity since its inception.

Rahaminov Diamonds Emerald-Cut Diamond Bezel Bangle
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel Bangle

The brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.

Black and white photo of Tony Bennett near a microphone
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony Bennett

The first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.

Sapphire page in Chatham’s “Ultimate Lab-Grown Catalog”
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown Gemstones

The catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.

Rembrandt Blue Jay, Hummingbird, Cardinal Bird Charms
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird Charms

The company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.

Shipping containers on a ship
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says

An additional 25 percent tariff has been added to the previously announced 25 percent.

Claire’s storefront
MajorsAug 06, 2025
Claire’s Files for Chapter 11 Bankruptcy Again

The jewelry and accessories retailer plans to close 18 stores as part of the proceedings.

Smith & Son Jewelers storefront Springfield Massachusetts
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location

Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.

×

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