WEDDINGS ARE HELPING

Dubai’s credentials as the spot where high-profile weddings take place has been a boon for jewellery and luxury label sales in the UAE.

It meant that all or much of the wedding associated jewellery buying typically takes place here. All of the leading local gold and diamond retailers have recorded sales to such clients in the recent past. (For luxury retailers, it has meant sudden demand for luxury bags and the like to be given to those invited for these weddings.)

“Weddings are and will remain recession-proof,” said a jewellery retailer. “That means anyone wanting to buy gold will do so whether the price is at $1,600 or $1,800.”