Watch and Jewellery Dubai (WJD) 2005, currently being held at the Airport Expo Dubai (5th to 9th December) is generating significant interest among exhibitors and trade visitors from the GCC region, rest of the Middle East proving that further sizeable growth opportunities continue to exist for Dubai’s US$3-billion retail jewellery trade. Participating companies have reported substantial business enquiries during the first three days, according to organisers Dubai World Trade Centre (DWTC).
The five-day exhibition has attracted leading names in the jewellery industry. In fact, this year's edition has seen a larger international representation with country pavilions from Hong Kong, Italy, Turkey, Belgium, India, Thailand, Korea, Brazil, apart from independent participants and leading Dubai-based companies.
While it is too soon to talk on the deals inked, consider the fact that despite its modest size, the UAE remains one of the world's top ten gold consuming countries. UAE’s gold consumption increased from 88 tonnes in 2003 to 96 tonnes in 2004, representing a nine per cent growth.
Rosy Blue, one of the world's biggest and most renowned leaders in the design, manufacture and distribution of fine diamonds and jewellery reported: “With global vision and dedication to serving the needs of every client, Rosy Blue is 'More than Diamonds',” said Dilip Mehta, CEO, Rosy Blue. “As a leading siteholder and a premier client of the Diamond Trading Company (DTC) of the De Beers Group, we are a key infrastructure provider to both small and large businesses. We are partners to our clients in the truest sense and are delighted with the visitor turnout at the event.”
Another big player is Aspeco NV the Antwerp-based partner of K. Girdharlal, a modern, high tech jewellery manufacturer with distribution offices in the major diamond centres of the world, including New York, Hong Kong, Dubai, Shanghai, Mumbai and Antwerp. Last year the company was the second largest exporter of polished diamonds in India, and has been a DTC sightholder for over 10 years. The company believes in building long-term relationships with partners and investing in industry-leading customer service.
Major local players like Damas, Bin Hendi, Istana, Chatila, Scintilla, Amwaj, Pure Gold, Salem Al Shueiby, Dhamani, Nabil Cheail, Hatta New World, Hanna Freres also received numerous enquiries.
Regional companies had it good as well. Diamond House from Qatar, Al Fares from Kuwait, Al Dhahm from Saudi Arabia evoked considerable interest among the trade visitors.
It was also a busy time in the Turkish pavilion with over 40 companies dealing in various products including A. Sentez Jewellery, Arpas, efe jewelry, Innova Jewellery, Istanbul Jewellery Design, Kozan Jewellery, Mert Alyans, Om Jewellery, Vanli (all in diamond and gemstone jewellery), Ant Jewellery, Bakirel (who deal in jewellery set in cubic zirconium) BaG, E&S, Cetlas Jewellery, Piramit Gold, Turkcan Jewellery, VIP Jewellery (gold), Belbak Mounting, Ersin Koyuncu Jewellery Mounting, Montur, Sade (mounting jewellery), Garni Jewellery, Gusto Jewelry, Karakas, Monte Jewellery, Onsa Gold Jewellery, Zen Diamond (diamonds), Ozcan Gumus, Ozcan Silver Jewellery (silverware).
Dubai, the fastest growing gold centre in the world, is currently importing more than 500 tonnes of gold annually and re-exporting most of this to countries beyond the region.
Dubai's total jewellery retail trade adds up to an impressive AED11 billion (US$3 billion) per year. And this growth continues despite the fact that gold prices recently hit the highest in nearly 20 years to cross US$500 an ounce.
Both gold and jewellery have a special place in the history of Dubai, which boasts 650 retail outlets – the densest concentration of jewellery shops anywhere in the world.
If you are part of the watch or jewellery industry or a dealer in premium quality brands or a buyer with varied interests and a keen eye for the latest designs, the place to be is the Watch and Jewellery Dubai 2005 at the Airport Dubai Expo. The show concludes on December 9th 2005.