Dubai's development efforts as the world center of the luxury retail market are once again supported - the Swiss company De Grisogono has chosen this city to establish its first branch, Rapaport reports citing Arabianbusiness.com. The Geneva-based De Grisogono brand, producing jewelry and luxury watches, with the support of the Dubai Investment Development Agency, wants to use its Dubai branch as a springboard for the development of a network of subsidiaries and sales offices in other markets.
The company said that its brand is already quite widely represented in the retail market of the Middle East region.
The import of Swiss watches in the UAE over the past three years increased by 36%. According to the generalized indicators of the Federation of the Swiss watch industry (2013), the UAE became the largest in the Middle East region for the import of Swiss watches.