Delving into enterprise in other countries isn’t always as
straightforward as one thinks. There are sometimes many hurdles to leap
in making it work.
The U.A.E is surely one of those places. Luxury houses have found it
hard to make their way into on the record of wealthiest nations around
the world in the world. Most have needed to turn to neighborhood
enterprises to ensure it is work.
Tiffany & Co is surely one of them, but that is about to change
using the information that the American jeweller is about to carry a
good deal more control of the company in the U.A.E, which is unusual
given no luxury brand names can have full subsidiaries in U.A.E due to
laws, so with this revised structure Tiffany & Co. will have a good
deal more control over the company it seems.
Forbes reports that tiffany jewelry is restructuring its joint
opportunity with retailer Damas Jewellery, global jewellery and watch
retailer in the U.A.E.
Under the new agreement between the two companies, all of operational,
merchandising and sales, and marketing management for the five Tiffany
& Co stores in the U.A.E are going to be transferred from Damas to
Tiffany.
“This restructuring of our retail presence in the U.A.E by way of this
joint opportunity with Damas allows us, for the 1st time, to wholly
manage Tiffany’s operational activities,” Laurent Cathala, Tiffany’s VP
of Emerging Markets told Forbes.
“It underscores the importance of the U.A.E marketplace to our global
expansion plan and highlights our optimism regarding the long-term
growth potential we see throughout the Middle East.”
Stephane de Palmas has been appointed as general manager of the U.A.E retail operation.
