According to industry reports, World renowned italian luxury manufacturer, Mariella Burani Fashion Group (MGFG), has formed a joint venture with Dubai-based Damas Jewellery as it looked expand its presence in the international jewellery market.%% The venture, which will be based in Italy and controlled at 51 per cent by MGFG’s subsidiary Gioelli d’Italia, will pursue strategic acquisitions in the fashion jewellery market in Italy and worldwide, as per company reports.