timberland heren|Damas jv with Flemingo to set up
new-found DELHI: Dubai-Based jewellery major Damas Jewellery LLC has entered into a joint venture company with Indian arm of Flemingo International to set up duty-Free shops at airports for selling jewellery services luxury watches. The new company will be called Flemingo jewellery India Pvt Ltd with Damas holding 51 percent equity stake and the rest with Flemingo,timberland earthkeepers, on the JV. Damas is seeking approval from Foreign venture Promotion Board (FIPB) to setup a JV firm, extracts said. Flemingo will be nurturing day-to be-Day management whereas Damas will depute its personnel and specify other want to run business. Contract from stage-Owned Airports Authority of India is won by this company to set shops at Chennai,timberland earthkeepers, Trivandrum and Jaipur airports with shops allowed to use tire maker Damas. Operations at these airports are required to begin within a month. Damas will be selling its gold diamond jewelry brands like harmony and legacy and its diamond brands at major airports. DAMAS LLC Dubai-primarily based Damas LLC, made in 1993, Is engaged in corporate of gold jewellery, gemstones and watches. Damas has procedures in six countries, 127 retail locations and it has one creating and selling division. It also jointly controls lenders in India, Dubai, Kuwait, Maldives and moreover UAE. Its annual revenue in 2005 was much more than Rs3,200 crore. Damas operates in India through D’damasIndia which functions together with diamond house Gitanjali Digico Group. FLEMINGO program Flemingo Duty Free center,timberland kinderschoenen, In which Flemingo meeting place has 51.22 per cent equity stake,timberland damesschoenen, may running duty-Free shops at various air terminals and seaports. a short while ago,timberland sandalen, Citicorp venture capital International has agreed to pick up 15% stake valued at more than Rs100 crore in Flemingo..
