Damas to host biggest ever sale in Dubai

End of season sale offers between 25 to 70% off selected jewellery and watches Damas, the region’s international jewellery and watch retailer, has announced that it will host its biggest ever sale, located at its main vault in DMCC, Dubai, from May 31st – June 9th, 2012. The end of season sale offers between 25 […]

Tiffany & Co restructures operations management in UAE

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Transfer of operational, jewellery merchandising, sales and marketing management Tiffany & Co. announced it has signed a joint venture agreement with Damas Jewellery. The company is incorporated under the laws of Dubai, relating to the operation of its U.A.E-based boutiques. The partnership will see the transfer of operational, merchandising and sales & marketing management for […]

Damas to delist from Nasdaq Dubai June 12th

Damas International announced that it will delist shares from Nasdaq Dubai as of June 12th, on the back of the joint bid submitted by Qatar’s Mannai Corporation and Egyptian investment bank EFG-Hermes. The jeweler said in a statement that it had received on May 13th, 9:00 a.m. bids to purchase 878.986546 million shares, or 88.86% […]

Folli Follie launches new ‘Reflections Collection’ in UAE

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Folli Follie, the top fashion brand well known for its trendy jewellery, watches and accessories, has recently launched the new ‘Reflections Collection’ in the UAE, which is a collection of rings, pendants, handbags and wallets inspired by the various reflections of stylish thoughts and sentiments. The new collection radiates, as it incorporates varying facets of […]

First store in the world to carry Magerit’s Atlantis collection

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Magerit, the Spanish jeweller made famous by its sculptural approach to fine jewellery, has today (Wednesday, April 27, 2011) unveiled its new Atlantis collection at the Damas Les Exclusives Boutique in the Burj Al Arab Hotel in Dubai, United Arab Emirates, making Damas the first retailer in the world to stock the new collection. The […]

Damas announces strong half-year results

Damas International Limited (Damas), the leading jewellery retailer in the Middle East, announced today its financial results for the six months ending September 30, 2010, demonstrating the strength of its core operations and signaling its clear growth trajectory. For the six months ending September 30, 2010, Damas reported a net profit of AED 4.24 million, […]

Damas Chairman highlights company’s positive outlook at second Annual General Meeting

Following the conclusion of its second Annual General Meeting (AGM), which was held today in Dubai, Damas International Limited (Damas), the leading jewellery retailer in the Middle East, announced that the assembly approved a range of resolutions, including the company’s accounts for the previous financial year, reappointment of its Board of Directors and appointment of […]

Dubai regulator orders Damas to dismiss board

The Dubai Financial Services Authority ordered jeweller Damas International to discharge its board and pay penalties, citing irregularities involving cash and gold, Gulf Daily News reported. The watchdog said that an investigation revealed that Damas’s board did not exercise appropriate governance after key executives drew down reserves without approval. The authority noted that the Abdullah […]

Damas set to sign $1.08 bln Debt Standstill

Damas, the region’s largest jewelry company, is poised to sign a formal standstill on some 4 billion dirhams ( about 1.08 billion U.S. dollars) worth of debt. Damas is working towards an official debt freeze to defer its principal loan payments until May 31 but still accrue interest, The National quoted an unnamed source as […]

Angsana Hotel and Suites Dubai set to close

Angsana Hotel and Suites Dubai is set to close its doors, another victim of the global financial crisis as the owners and managers have come to an agreement that the two towers now be sold off to become residential units. Angsana, the luxury brand operated by Banyan Tree, saw its first Dubai property in Angsana […]