The long-standing engagement between Tiffany & Co, the New York jeweller famous for its sparkly rings, and Damas International has been broken off following the Dubai company's delisting from the stock market.
All operations, marketing and sales functions for Tiffany in the Emirates will now be the responsibility of the brand itself, having previously been controlled by Damas, which was the wholesale distributor and operator of Tiffany stores.
The pair of jewellers have agreed to remain friends and signed a joint venture that will involve Damas International acting as a local partner and legal entity for the brand.
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