792-Dr. J. K. Patel Institute Of Management - Gujarat Technological ...

global brand name, and is also the retailer for a large portfolio of renowned global
luxury brands.
Damas sells jewellery and watches through four main store formats, which are
uniquely positioned to address different consumer segment needs.
Specifically, the Les Exclusives Stores offer high-end luxury products; Semi-
Exclusives Stores offer stylish and sophisticated products for the discerning
consumer; and the Damas 22K and 18K Stores offer trendy, fashionable and stylish
products and brands at competitive prices.
In addition to the four principal store formats, Damas also operates other outlets
such as exclusive watch stores and Mono-brand boutiques.
History:
The Group has its origins in Syria in the early 1900s. In 1955, the business moved to
the UAE and the first retail outlet was opened in 1959. By the end of 1985, the
Damas Group had expanded with several retail stores throughout the UAE and in
1988; the Group launched its first branded jewellery line under the Harmony brand.
In the 1990s, the Group adopted an early version of its current marketing and
merchandising strategy to develop its brands and products based on customer
segmentation according to demographic profile, including its current store format
structure.
By 2000, the Group had established retail operations in Qatar, Bahrain, Oman and
Jordan. In 2002, the Group expanded its operations to Kuwait and Saudi Arabia, and
by 2004, the Group had further strengthened its presence within and beyond the
Middle East.
Damas established the Diamond Division to manage the sourcing of loose stones
and finished jewellery.
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