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Derivision Announces Joint Venture With Yateem Group

DUBAI, April 30, 2013 /PRNewswire/ --

  • This association between the two businesses will consolidate Derivision's position as a strong distributor catering to the needs of the retailers.
  • The joint venture will enable the two retail power houses Hassan's and Yateem's to capitalise on opportunities of growth in the region with their 130 plus stores through De Rigo brands.

The UAE is an ideal place for global luxury brands to grow their businesses, with the country having the largest luxury market within the Gulf region, according to an industry specialist. In line with the same and supporting the government's vision of promoting UAE as the ultimate destination for high-end luxury shopping; Derivision based in Dubai; a leading eyewear distributor in the Middle East owned by Hassan's Optical Company has announced a joint venture agreement with Yateem Group, at a press conference held on 18th April 2013 at Pavilion Downtown, Dubai.

The partnership will be headquartered in Dubai and will take Derivision's longstanding relationship with Yateem and Hassan Opticals to a new level of collaboration. The association between the two groups will consolidate Derivision's position as a strong luxury eyewear distributor.

Commenting on this strategic partnership, Mr. M.S. Reddy, General Manager, Derivision, said: " We are pleased to announce our association with  Y ateem  G roup  and  our  extraordinary relationship  with De  R igo  will  make their resources directly accessible to the Middle East region enabling  us to serve the needs of this  emerg ing market in a more focussed and efficient manner with the ai m of increasing customer experience  in the luxury  and lifestyle brand s."

The joint venture will enable the two retail power houses Hassan's and Yateem's to capitalise on opportunities of growth in the region with their 130 plus stores through De Rigo brands.

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