Gaia’s success has significantly contributed to Damas’ overall revenues and sales: Luc Perramond

Enthused by the success of Gaia by Damas, Luc Perramond, Chairman and CEO, Damas Jewellery, is certain thatlab-grown diamonds will have an increased market-share within the diamond segment in the next couple of years

When leading jewellery retailer Damas launched the first lab-grown diamond brand ‘Gaia’ in the Middle East market in 2021, it was a big bet for the brand in its attempt to tap into a new market created by the scarcity of mined diamonds. Today, Gaia not only plays a significant role in Damas’ overall strategy, aligning with its commitment to sustainability, but also attracts new customers and contributes in a big way to the company’s overall revenues and sales.

Here, Luc Perramond, Chairman and CEO, Damas Jewellery, shares his insights about Gaia with The Retail Jeweller:

How has Gaia fared over the last couple of years? How have customers responded to your big bet on lab-grown diamonds? Who is buying Gaia more – people in the region or tourists?

We have had remarkable success and a fantastic response since Gaia’s launch. The collection has been attracting a diverse customer base, both residents and tourists across all ethnicities and age groups. We are now extending the assortment and distribution network.

Lebanese star Nadine Njeim is the brand ambassador of Gaia by Damas. What does she bring to the brand, and how do you plan to involve her in promoting Gaia over the next few months?

We launched the Gaia collection in 2021 with Lebanese actress Nadine Njeim, serving as the face of the collection as she resonates well with our target audience in the region. The Gaia range has also been loved by other celebrities and influencers such as Mona Kattan, who famously turned heads with her Gaia-themed Harper’s Bazaar bridal cover shoot.

How does Gaia tie in with the scheme of things at Damas? How does it contribute to the company’s overall revenues/sales?

Gaia plays a significant role in Damas’ overall strategy as it aligns with our commitment to sustainability and our vision of offering customers a diverse range of high-quality jewellery options. By introducing Gaia as the Middle East’s first lab-grown diamond brand, we have expanded our diamond offering and tapped into a growing market segment. Gaia’s success has significantly contributed to the company’s overall revenues and sales, attracting new customers. Gaia complements our existing offerings and reinforces Damas’ position as a leader in the jewellery industry by providing customers with innovative choices that meet their evolving preferences.

Gaia is named after the Greek goddess of the Earth. How important is sustainability and commitment to ethical practices for today’s consumer?

Lab-grown diamonds are widely endorsed by leading environmentalists and well-known conservationists, such as Leonardo DiCaprio, Emma Watson, and Lady Gaga. As the first jeweller to introduce a dedicated collection made with high quality and certified lab-grown diamonds, it is a testament to our commitment to sustainability and commitment to ethical practices which has become a key component for today’s consumer.

Going forward, what is your vision for Gaia? How do you see the brand, say, two years from now?

We will continue to bring innovation to the region and Gaia will be at the heart of our developments. I believe that lab-grown diamonds will have an increased market-share within the diamond segment in general and that in two years, it will be a must-have for any jewellery house to offer as part of its product portfolio. We will continue to innovate in design, offering unique collections and staying ahead of industry trends.

Retail Jeweller World Exclusive