The Abdullah brothers must have felt like three prodigal sons in July 2008 as Damas, the jewellery retailer founded in 1907 by their grandfather as a tiny shop in Dubai, made more than US$270 million (Dh991.7m) in an initial public offering (IPO) of a little less than one third of the company.
It was a defining event for Damas, the brothers and their dynasty.
For the company, it was the latest stage in a multi-generational arc that transformed their grandfather Mohammed Tawfique Abdullah’s storefront into a regional giant with nearly 450 stores in 18 countries.
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