Despite headwinds in the Gulf’s gold and jewellery trade, Dubai-based Damas is opening new stores, renovating some of its existing ones, and planning to make a re-entry into India. All the while basing its business — present and future — around 22k jewellery.
“22k is in our hearts … it’s where our strength is and we want to rule in that market,” said Asil Attar, who took over as CEO of Damas Jewellery in February, armed with the mandate to come up with a top-down strategy to revive the retailer’s fortunes. At one point we were a little bit sleepy — but we are coming out with a left hook. In the next 12 months, we will reveal to you new 22k retail concepts. That’s only investing in the power of 22k.”