A decade of strong growth

Since its original formation in 1983 and transformed in 2000, Damas Company has grown at tremendous rates in all its business segments and has established a strong customer base made up of corporate clients, the public sector, households and consumers.

 

The Company has created and continues to create new and innovative lines of business in a range of business areas that directly help and support other industries and economic sectors. In addition to its trading lines, the Damas has invested on other sectors such as real estate and logistics services.

 

On the wholesale and retail front, the Company has opened a total of 10 wholesale and retail stores in Male’, specialized in the different product areas that the Company operates in its trading activities. Most importantly the Company has successfully built a network of retailers in the islands through its unique SME scheme, Damas SME Initiative, which is the core of its CSR program as well. The Company is proud to have developed and nurtured direct business contact with more than 600 retailers and traders in the country and continues to work with over 200 of them today.

 

New business channels were opened with the strengthening and consolidation of the Company’s distribution hub spread over Male’, Thilafushi and Hulhumale’, from which the Company’s products are distributed. The company distributes premium brands of liquors and alcoholic beverages to the tourism industry through its bonded warehouse located at Male’ International Airport.

 

Corporate and project related sales remain steady, while significant other areas continue to grow mainly due to availability of products, that offers a perfect match that meets customers’ needs, convenient terms of business for the clients and timely delivery of products required. Damas continues to support companies engaged in national infrastructure development projects through credit lines extended specifically for such projects.

 

While a number of internationally renowned brands have been acquired the company has also developed a range of house brands which include brands names in F&B products, paints and hardware.

 

In its trading business, prestigious new partnerships with internationally renowned brands continue to be made, backed up by an increasing commitment to product quality and service excellence, whilst distribution developed in the direction of further customer segmentation and an expanding retail network reaching out to a larger and larger percentage of the businesses and households.