RAPAPORT... Fawaz Gruosi has departed his position as creative consultant to the jewelry brand that bears his name.
The designer stood down in recent days after three years working with Creative Luxury Holding (CLH), the company said in a statement on Tuesday.
“CLH and Mr Gruosi had committed to a clear long-term commercial strategy for the business,” CLH said. “However, recent decisions by Mr Gruosi have made the partnership untenable, and, therefore,
he leaves immediately.”
The trigger for Gruosi’s exit was the failure to reach a licensing deal with CLH for his name and the brand following lengthy negotiations, Rapaport News understands. The parties had disagreements over ownership.
The Fawaz Gruosi brand has one boutique store in London and produces its jewelry at a workshop in Geneva, Switzerland.
Gruosi also founded De Grisogono, a Swiss jeweler that he left three years ago.
Image: Fawaz Gruosi. (Damian Foxe)
|
|
|
|
|