MILAN — Damiani is banking on the Middle East.
On Thursday morning, the Italian jeweler’s brand ambassador Jessica Chastain will act as godmother to the ribbon cutting of the newly revamped Damiani boutique inside the Dubai Mall.
“It’s a small market but very promising. We’ve got a lot of local customers buying our jewels in Europe and the new opening here allows us to convey our storytelling and display our products more thoroughly,” said Guido Grassi Damiani, president of the Damiani Group, the jeweler’s parent company, in an interview ahead of the opening.
“It’s also a relatively new market for us and although we’ve been present in the region for a few years now, we’ve only recently stepped on the gas, opening a subsidiary and hiring staff,” he added.
Suggesting the group’s big ambition in the region, the Dubai Mall reopening coincides with the unveiling of a new door at Marassi Galleria Mall in Bahrain. These are to be followed by other openings in the Middle East, including a second Dubai outpost and the first in Abu Dhabi, by the end of spring. They follow recent openings in the region including in Kuwait City; Riyadh, and a second boutique in Doha, Qatar.
Jessica Chastain wearing the “Magnifica” necklace from Damiani’s ”Ode to Italy” high jewelry collection.
Courtesy of Damiani
The 1,905-square-foot store at the Dubai Mall follows Damiani’s new retail blueprint, inaugurated a year ago for the relocation of the Milan store. Decked in gold, with cream white and brown accents enhanced by warm lighting, the boutique features Calacatta marble portals and a decorative wall featuring circle and rectangle motifs that echo Damiani’s signature “Belle Époque” collection.
Custom wood furniture, including walnut bookcases displaying pieces from the glassmaker sister brand Venini, rounded counters and armchairs upholstered with Dedar fabrics convey a home-y feel, while an imposing Venini “Poliedri” chandelier fixture designed for the glassmaker by Carlo Scarpa in the 1950s hovers over the space in the signature amber and brown colorways.
Inside the revamped Damiani boutique at Dubai Mall.
Sami Khatib/Courtesy of Damiani
The boutique in Dubai is also the next stop in the roving exhibition of the “Ode all’Italia” high jewelry collection, unveiled last June in Rome. Before the United Arab Emirates stop, it touched down in Hong Kong, Tokyo, Seoul, Kuwait City and Paris. A longstanding Damiani goldsmith will showcase the jeweler’s 100-year-old crafts at the Dubai Mall boutique.
“The market is rapidly growing for us because locals are very passionate, knowledgeable and selective about jewelry. They are sophisticated, they know the brands and want to know about the history, the manufacturing, the quality of stones,” Damiani said. “Also, the international wealthy pack who’s moving and has moved here is bringing about even more dynamism to the country and the region,” he said.
“Dubai is very attractive for the palpable energy that sweeps through it. Today about 90 percent of United Arab Emirates residents are foreigners. And that energy has been expanding to neighboring countries in the region,” the executive said.
While declining to provide a breakdown by region, Damiani said that the Middle East currently contributes a small percentage of sales.
“We’re aiming to turn the region into one of the main driving markets in the next few years. The potential is there. It’s not going to be easy because the region is already well presided over by big jewelry labels, but it’s our bet,” he said.
The jewelry brand’s key markets are South Korea, Japan and Italy. The greater Far East area, with countries including China, Hong Kong, Taiwan, Thailand and Malaysia follow suit.
In the Americas, Damiani has a fairly big presence in South America while it has yet to penetrate the U.S., a market which Damiani described as “very demanding.”
Inside the revamped Damiani boutique at Dubai Mall.
Sami Khatib/Courtesy of Damiani
In fiscal 2025 ending March 31, 2026, the Damiani Group – which also comprises the Salvini and Bliss jewelry brands, as well as Calderoni, retailer Rocca and glassmaker Venini — expects single-digit growth.
“Our performance so far has been positive. We’re in line with the growth of the jewelry market although growth rates have been slower than in the past,” Damiani said.
In fiscal 2024 turnover stood at 380 million euros, more than a 10 percent increase over the previous year.
“The potential for the sector remains high. I believe that customers have grown tired of other categories and they resort more frequently to jewelry for self-rewarding and as investment pieces,” Damiani said. “There is also an increased transition from purchases of unbranded jewels to jewelry brands, which can provide guarantees on quality. This is allowing brands in the sector to gain market share and as a result contribute to furthering the sector’s growth.”
Damiani marked its 100th anniversary in 2024.
