Damas: The golden boys

Damas is the leading jewelry chain in the United Arab Emirates and a luxury venture that claims to have a 17 percent share of the domestic market. The roots of its founding family in the precious business go back more than a century. Today the company is owned by regional investors. Fortified with a recent business restructuring and a clear strategy of concentration on its core market, namely the Gulf Cooperation Council countries, it is positioning itself for growth, specifically in Saudi Arabia, but also seeks to further expand its standing in the UAE, chief executive Anan Fakhreddin told Executive. “When the restructuring started two years ago, we put the first priority on our core markets. Our core markets definition today is the GCC. These are the markets where Damas started and where we have a very strong understanding of consumer trends and preferences,” Fakhreddin said.  Organizational and marketing initiatives