DLA Piper announces its involvement in the structuring of a joint venture between Damas Jewellery LLC and the internationally acclaimed jewellery designer Tiffany & Co. DLA Piper’s specialist retail group has been advising Tiffany for over a year and the venture is expected to signal the start of a wider expansion of the Tiffany brand across the region.
Tiffany has been operating in the UAE for a number of years, by licensing its brand name to certain key Damas stores, but the new structure will now enable the jewellery designer to offer a wider range of styles and ranges to UAE consumers. DLA Piper’s team was led by Sean Angle with significant support provided by Tim Watkins, legal director, and Govind Naidu, senior legal consultant.
“Tiffany designs are widely sought after across the world and a selection have been available in the UAE for a number of years. The new corporate structure will enable more designs to be brought to the region while allowing Tiffany greater control over its brand identity,” commented Sean Angle, partner, DLA Piper Middle East. “Retailers looking to operate in the UAE have a number of options regarding their corporate structure and care must be taken, from the start of the process, to ensure the structure best supports the brand’s identity and expansion objectives. We were delighted to support Tiffany and look forward to supporting any future growth across the region.”
Duncan Pickering, partner and lead member of DLA Piper’s Middle East Retail Group, also commented: “Tiffany’s decision to continue its expansion is further evidence of the strength of the retail market in the UAE and the wider region. Dubai’s retail offering has been strong for some time and the development of new high quality schemes, such as The Galleria in Abu Dhabi and Doha Festival City in Qatar, gives luxury international retailers even more opportunities to showcase their brands. DLA Piper’s Retail Group is pleased to support both developers and retailers in this exciting sector.”
DLA Piper’s Retail Group consists of sector experts from across the globe advising on all aspects of business law relevant to the retail industry, including intellectual property, corporate structuring, real estate and employment. The group represents clients such as Al Futtaim, Gulf Related, Nakheel Retail Shopping Malls, and Dubai Investment Group and a number of international brands including Tiffany and Polo Ralph Lauren.
