fiogf49gjkf0d
Today, 14th of May 2012, Tiffany & Co. has announced it has signed a joint venture agreement with Damas Jewellery, a company incorporated under the laws of Dubai, relating to the operation of its U.A.E boutiques. The partnership will see the transfer of operational, merchandising and sales & marketing management for the TIFFANY & CO. brand in the U.A.E. from Damas Jewellery to Tiffany. Until now, Tiffany has sold merchandise, on a wholesale basis, to Damas which operated the TIFFANY & CO. stores. Under the joint venture, the new entity will be incorporated in the U.A.E as TCO Damas Associates L.L.C. Tiffany also announced the appointment of Stephane de Palmas as General Manager of the new U.A.E. retail operation. Mr. de Palmas, 46, will be responsible for the overall management of the TIFFANY & CO. stores in Dubai and Abu Dhabi.