Damac's Push to High-End Fashion

The transcript discusses the acquisition and repositioning of a high-end jewelry brand, detailing expansion plans in major cities like London, Dubai, and the US. It covers the clean purchase process and the impact on the Dubai property market, debunking myths about Russian influence. The resilience of Dubai's economy amidst global challenges is highlighted, along with the strategic decision to privatize the company before the COVID-19 pandemic, which later proved beneficial as the market recovered.

What was the main reason for acquiring the jewelry brand?

• To enter the fashion industry

• To reposition it as a top market brand

• To compete with local brands

• To diversify into electronics

Which cities are targeted for opening new stores for the jewelry brand?

• Moscow, Beijing, Seoul

• Paris, Tokyo, Sydney

• London, Dubai, US cities

• Berlin, Rome, Madrid

What is a common misconception about the Dubai property market?

• It is declining due to global recession

• It is unaffected by international conflicts

• It is solely supported by Russian money

• It is driven by European investments

What factors contributed to the growth of Dubai's property market in 2021?

• Strong foundation and handling of COVID

• Rise in oil prices

• Increased tourism and hospitality

• Government subsidies for housing

How has Dubai historically benefited during global conflicts?

• By expanding its military

• By reducing taxes

• By increasing oil production

• By attracting international investments

What was the strategic decision made regarding the company during a tough time?

• To cut down on workforce

• To merge with a competitor

• To expand into new markets

• To take the company private

What was the stock price when the decision to go private was made?

• 200 fills

• 100 fills

• 1.4 fills

• 40 fills