Morocco and Tunisia will have more selection of jewelry in the near future with the expansion that Damas International is planning. This UAE-based jeweler is planning to open new stores in these two countries by the end of 2008. Morocco and Tunisia are big consumer markets that Damas hopes to be a part of. What they have in mind is two or three stores per country complete with a small manufacturing unit. These upcoming stores will be another big addition to an already vast empire. Overall, Damas already has 438 stores that can be found in different countries of Asia, Middle East, Europe, and North Africa.

Damas is the first to UAE-based retailer to e listed in the Dubai International Financial Exchange (DIFX). This is due to the high sales it had o the first quarter of this year. The company made as much as $305 million. They were able to make this profit by selling not only their own diamond and gold jewelry but also products by other companies like Links of London and Tiffany & Co.

Source: Arabianbusiness