Damas CEO named Retail CEO of the Year

Anan Fakhreddin, CEO of Damas, the Middle East's leading jewellery and watch retailer, has been honored with the Retail CEO of the Year award at the CEO Awards ME 2014 in recognition of his achievements across the Gulf region.

Anan Fakhreddin's award is a testament to his active presence and achievements in the region’s jewellery retail sector since the year 2000. Under Fakhreddin’s leadership, Damas has transformed from a famous brand in Dubai to a famous international jewellery brand from Dubai. Also he has effectively realigned the business, retail and product strategies of Damas, an industry leader in the dynamic luxury goods market that is routinely impacted by new interest rates, rising gold prices and varying consumer tastes.

The award ceremony took place on 10 September at the Emirates Towers. An independent judging panel consisting of the Arabian Business magazine’s editorial staff and industry leaders and experts came together to select the CEO winners. The CEO Awards recognize and reward outstanding success, innovation and ethics across Middle Eastern Business. The awards honor CEO’s through the appreciation of innovative business, business excellence and overall business success, and acknowledge publicly the vital contribution made by individuals and their companies to the vibrancy of business within the UAE and across the region.

Karam Awad, Managing Director of ITP Executive, said: “At CEO magazine, we have always endeavored to recognize the contribution of businesses across the region. Over the last few years, a significant number of CEOs and their companies have put in a stellar performance that has played a crucial role in the resurgence and rapid growth of the country's economy. Anan Fakhreddin’s contributions in accelerating the growth of the region’s jewellery market exemplify this commitment to progress.”

Acknowledging the honor, Anan Fakhreddin said: “At Damas, we align our operations with Dubai’s vision for growth. It is this mandate that led to the company’s restructuring in 2013, the evolution of a new business strategy and subsequent reformatting of our business model. We are continually pushing the limits to improve our standards and competencies in the jewellery sector across the Middle East.

“Industry distinctions such as the CEO Awards ME reaffirm our commitment to shaping the luxury sector. In line with the new strategy that we have already started to implement, Damas will continue to evolve and expand not only across the GCC but worldwide as it transforms from a reputed home-grown brand in Dubai to a reputed international jewellery brand from Dubai. We are particularly proud of this accomplishment as it places us among esteemed stalwarts in the field.”