Tribune News Network
Doha
Lesha Bank has announced the successful completion of its exit from David Morris International Limited, a renowned international luxury jewellery brand. The transaction, which valued the business at GBP 70 million, saw Lesha Bank, a 50 percent shareholder, receiving exit proceeds of GBP 35 million.
This exit marks a profitable return on investment and aligns with Lesha Bank’s strategic objectives of optimising its portfolio for increased efficiency.
David Morris International Limited, established in 1962 and headquartered in the UK, is recognised for its exquisite jewellery collections and elite clientele, including royalty and high-net-worth individuals from Europe, Asia, and the Middle East.
With its flagship store on New Bond Street, London, the brand operates additional outlets in France and the UAE, alongside franchises in Qatar and Kuwait.
Lesha Bank acquired a 50 percent stake in David Morris International Limited in 2014 and supported its global expansion. The bank’s decision to divest its stake reflects its ongoing efforts to reallocate resources towards ventures that better align with its evolving strategic direction.
Lesha Bank CEO Mohammed Ismail Al Emadi said, “This successful exit not only highlights our commitment to achieving substantial returns but also our strategic foresight in managing and realigning our investment portfolio. The sale of our stake in David Morris International Limited allows us to reinvest in new opportunities that promise higher alignment with our strategic goals.”
Suhaib AlMabrouk, head of private equity & corporate banking at Lesha Bank, added, “David Morris International Limited has been a valuable part of our portfolio. Our successful exit is a testament to our disciplined investment approach and focus on ensuring sustainable profitability and growth.”
Lesha Bank is the first independent Shari’a-compliant bank authorised by the Qatar Financial Centre Regulatory Authority and is listed on the Qatar StockExchange.
