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NEW HOME: De Grisogono, the Swiss jewelry and watch firm, got a big lift Tuesday with the reopening of its 2,800-square-foot shop on the southwest corner of Madison Avenue and 69th Street in Manhattan. A spark in a window display last December ignited a fire destroying the store.
“It’s been rebuilt exactly as it was,” Fawaz Gruosi, owner and founder of de Grisogono, told WWD. “It was a big loss,” though some business did shift to de Grisogono’s outpost in Bergdorf Goodman.
Gruosi said he’ll be touting the store’s reopening with a party there tonight, and thereafter moving the company forward. He’s considering a shop in Bal Harbour Shops, the luxury center in Miami.
As far as business overall, he acknowledged it will be a few years before it returns to prerecession levels. “It’s improving everywhere, and is much better for us in Europe, though it’s not like it used to be,” Gruosi said. “We haven’t returned to the point of 2006 or 2007. We are realistic. We are controlling expenses.”