Damas and Tiffany enter Dubai partnership

20/01/2012 - Dubai Lifestyle News Posted Bob Brunskill
Damas and Tiffany enter Dubai partnership

Dubai's credentials as a global retail hub have been given a significant boost, property investors and others could be interested to learn.Following the signing of a new deal, Tiffany & Co, one of the world's most famous jewellery chains, will soon be operating in the emirate.The jeweller has signed a memorandum of understanding with Dubai-based Damas, establishing a joint venture, which will see Damas operating a number of Tiffany & Co branches throughout the UAE.It is the first time the US-based luxury retailer has entered a partnership venture of this kind anywhere in the world.Ibrahim Belselah, chairman of Damas International, said. "The joint venture between Damas and Tiffany & Co will demonstrate the confidence that Tiffany & Co has placed in Damas; this being the first partnership venture of Tiffany & Co in the world."The news is sure to lead to a rise in the number of people heading to Dubai and other northern emirates on extended shopping holidays.