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Case Study

The UAE’s jeweller: Damas

Jeweler

Founded in 1907, Damas is one of the leading names in the Middle East’s prestigious jewellery industry. After decades of trading gold with the merchants who passed through the UAE at the start of the century, Damas opened its first store in 1959 at Dubai’s Gold Souk.

By 1962, it began trading Gulf pearls from this location and offering numerous gold creations. Just eight years later, business went into overdrive as Damas expanded its operation into wholesale gold trading. Buoyed by this success, the company was the first to import a diamond-cutting machine into the region in 1973. This move would kickstart its creation of gemstone-encrusted bangles and wedding bands.

Over the following years, Damas imported jewellery from Italy and beyond, putting goods from world-famous brands on the shelves of the Middle East. At the same time, it introduced several of its most iconic brands – Damas Classics, Vera, OneSixEight and Farfasha.

By 2000, Damas had expanded beyond the UAE with outlets across the GCC and MENA regions. In 2021, the company launched Bayt Damas, the region’s first lifestyle destination bringing together limited-edition luxurious jewellery pieces, art and fashion under one roof.

Today, Damas employs more than 2,000 people at over 300 stores across the GCC and MENA regions. Along with its in-house brands and collections, the company sells pieces by more than 40 prestigious and international brands, including Fope, Roberto Coin, Djula, Damiani and Mikimoto.

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