Damas opens nine stores in Dubai Mall
Damas International Limited (“Damas”), the international integrated jewellery and watch retailer, today announces the successful opening of nine different stores at Dubai Mall, one of the world’s largest shopping malls. The massive retail undertaking reflects Damas’ store network expansion strategy which aims to solidify its position as the leading jewellery distribution network in the Middle East. Damas operates 467 stores in 18 countries around the world, as of 30 June 2008.
Mr. Tawhid Abdullah, Chief Executive Officer and Managing Director, Damas International Limited commented: “Damas is proud to announce the opening of nine of its stores at one of the city’s newly opened premier shopping destinations right in the heart of the city. This comes as part of our growth plans that are based on organic store openings. The distinctive formats of these stores are also in alignment of our strategy to increase our market share.”
Damas’ unique business model enables it to appeal to multiple customer segments. The new nine outlets cater to a wide range of customers of different nationalities and socio-economic backgrounds and introduce a new format – Damas Concept Shop. The Concept Shop houses Damas’ own brands and will showcase Damas’ diamond and gold new creations.
The other stores opened are: Damas 18K, Damas Les Exclusive, Paspaley Pearls, Tiffany & Co, Graff, Folli Follie and Leo Pizzo. The ninth store, Damas Italia, opened on the 20th of January and will house Italian brands such as IOSI, Porrati and Nouvelle Bague.
- Damas opens its third Tiffany & Co. boutique at Wafi City
- Damas announces full year net profit of AED 9.7 million, before significant one-offs
- Middle East's Damas aims to spread its jewel treasures internationally
- Damas selects gold and jewelry solution from Landsteinar
- Damas Tower to be built in Ras al-Khaimah