Director General of Department of Economic Development inaugurates new Damas factory in Dubai

• Factory supports industrial footprint of the gold jewellery sector in the UAE
• Aims to increase production capacity to 80% by end of 2017
• Use of latest technologies in design and production

Dubai, UAE, August 31, 2016:  H.E. Sami Al Qamzi, Director General of the Dubai Department of Economic Development and Anan Fakhreddin, CEO of Damas, opened the Damas state-of-the-art production facility in Dubai today. The factory opening represents a quantum leap in line with the company’s growth and market expansion strategy.

The facility combines world-class expertise and traditional hand craftsmanship to produce unmatched jewellery using high technology production lines to ensure the highest levels of quality controls, purity and artistry on a local scale.

The new plant based in Nad Al Hamar highlights Damas’ commitment to the ‘Made in UAE’ initiative, employing its longstanding expertise in the retail sector to enhance industrial capabilities for gold jewellery, and promoting Dubai as a global hub for jewellery production.

H.E. Sami Al Qamzi said: "The art of goldsmithery and jewellery making are intrinsically embedded within the roots of UAE’s history and culture, as was confirmed by the recent discovery of the ancient archaeological site ‘Saroug Al Hadeed’ dating back to 500-2600 BC, on an expedition led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. The emirate has become a prominent icon in the gold industry with annual revenues exceeding 40 per cent of the total worldwide sales. We support the step Damas has taken in promoting UAE’s industrial footprint in this vital sector, which not only contributes to the retail and tourism industry, but also highlights the reputation of Dubai as the City of Gold."

Anan Fakhreddin, CEO of Damas said: "It is with great pleasure and honour that we open our principle factory which has been built on our brand values: craftsmanship, innovation, trust and Dubai. Dubai has always been and will always remain at the heart of Damas’ philosophy for innovation and culture. It is not only the city which gave us the strength to develop and grow our operations, but more importantly, it fosters a culture of innovation, where businesses can pursue and achieve their goals and ambition.

“Our investment in the new facility is a reflection of our commitment to the gold and jewellery sector. It is also aimed at enhancing our contribution to the industrial footprint of the UAE. The Damas facility supports our efforts to respond to market demands and introduce new products within record time by harnessing the latest technologies in the production processes without compromising on the human element involved."

While Dubai and the Gulf region in general are often considered to be among the world's most important markets for gold jewellery, a majority of what is available in these markets today are produced across workshops in India, Italy and Hong Kong.

Creativity
The Damas factory is UAE’s leading industrial facility for the production of gold jewellery with outstanding quality control, cutting edge technologies, decades of design and craftsmanship heritage and unparalleled manufacturing supply chain management, all under one roof. The facility employs 3D printing techniques in the design and manufacturing process, supported by laser capabilities to provide a sharp, detailed and consistent product.

Today, Damas is playing a vital role in the industry by bringing talent, craftsmanship and technology home to Dubai, the City of Gold. The factory employs over 200 specialized craftsmen and experts who carry forward the Damas legacy with their deep understanding of the culture, background and tastes of the customer.

Production capacity
The Damas factory has the capacity to manufacture over 280 kg of gold into unique pieces of jewellery, on a monthly basis. Currently, Damas designs and produces over 40% of its jewellery through this facility, and aims to increase the production capacity to 80% by the end of 2017, to meet market demand and long-term growth plans.

Purity and quality
Damas works closely with Dubai Central Laboratory to ensure all its products pass through the official national standards. It follows the highest levels of quality controls, purity and craftsmanship on local production processes, and has set new standards for its products by applying increased percentages of purity required by the official regulatory bodies and surpassing common industry standards.

Market Expansion
Damas continues its expansion plans across the region. Most recently, it entered into a strategic partnership with the De Beers Group of companies to launch the Damas Classics collection that only use rare and unique Forevermark diamonds. The company also strengthened its presence in the GCC region through new store openings in UAE, Saudi Arabia, Kuwait, Oman and Qatar.