Watch and jewellery sales to rise in GCC
sharjah — Constant innovation, with a close focus on the needs of the shoppers, will prove to be a winning formula in attracting shoppers, experts at the 44th edition of the MidEast Watch and Jewellery Show noted.
The highly anticipated event returns to Expo Centre Sharjah on Tuesday, under the patronage of His Highness Dr Sheikh Sultan bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, and with the support of the Sharjah Chamber of Commerce and Industry. The show, which will continue until April 7, features more than 500 brands and companies that specialise in the design and manufacture of watches and jewellery, as well as accessories and ornaments made with gold, diamonds, precious stones, and pearls.
India, Hong Kong, Italy, Lebanon, Malaysia, Singapore, and Thailand will set up national pavilions at the five-day event, which is also being attended by leading brands and companies from the UK, US, Russia, Japan, Latvia, Lithuania, Saudi Arabia, Jordan, Bahrain, Taiwan, and the UAE.
Speaking to Khaleej Times, Sajith Kottayan, regional manager of sales at Devji Aurum, noted that there is a slowdown in the GCC market right now due to a number of internal and external factors including the oil prices, but he is confident that demand will pick up soon.
“When you give something new to the customers, then the demand will always be there,” he said at the opening of the exhibition. “Sometimes, the price and look of the jewellery will not help, especially in this market, so you have to be unique and come up with something that is ahead of the market and your competitors. The jewellery show at Sharjah Expo is very important to us because this is the show that people come to with the intention of finding out what is new in the market. We need to ensure that we create the trend that will get their attention. Our association with this event goes back to almost 15 years.”
Amit Dhamani, CEO and MD at Dhamani, also spoke about how customers in the region, both expats and UAE nationals, were becoming more mature. “Their affinity towards diamond jewellery has increased a lot over the last few years. We feel that this is an opportunity for home grown brands like us, so we have started a big manufacturing facility in the UAE to ensure that our business grows at the right spectrum.”
Asked about the trend in diamond jewellery, he noted that bridal sets were a particularly interesting space as more shoppers were beginning to opt for them at weddings. “We are talking about sets ranging anywhere from between Dh80,00 to Dh300,000 for brides, depending on their choice of designs. We have also re-engineered the way that we design many sets; so right now, we are very careful with diamond sizes and placements to ensure that the overall look of the set is big, but that it doesn’t dig too deep into the person’s budget. When it comes to gemstones, emeralds are still the king in the market.”