DUBAI: Retailers kicked off the latest edition of MidEast Watch & Jewellery Show on Tuesday in Sharjah with mixed expectations about sales.
Some retailers were upbeat about sales during the show. “Business is back and sales are going up, “said Rohit Dhamani, director at UAE jeweller Dhamani, adding that the company’s sales are likely to grow between 20 and 30 per cent this month compared to August, helped by demand during the event.
The company is selling not only luxury diamond jewellery, but also more affordable pieces, with prices ranging from Dh2,000 to Dh1 million [for customised diamond jewellery]. It has expanded its presence at the show this year, with more jewellery collections on display.
“We have launched a new bridal diamond jewellery set at the show [for the first time in the UAE],” Dhamani said.
Similarly, Rinesh George, administration manager at UAE-based Al Anwaar Golden Jewellers, anticipates good sales during the show. “The market is good for diamond jewellery in Dubai.”
He said the event gives the company “more visibility and helps us sell our new products.” Diamond jewellery sets start from Dh200,000 at Al Anwaar Golden Jewellers.
However, Ahmad Marzooqi, owner of Al Badia Jewellery, which sells watches and gold and diamond jewellery, says he doesn’t expect business to be good during show because “ the jewellery market in the UAE is bad,” adding that “the market is very quiet …. there are no buyers.”
Meanwhile, Waseem Dabaan, general manager of Jovial Watches, said he expects sales during the show to be similar to the previous edition.
“In general in September, sales are not as expected. People are coming back from their holidays and are not spending on watches and jewellery,” he said.
The five-day show at Expo Centre Sharjah, covering an area of 30,000 square metres, attracted more than 500 exhibitors, showcasing everything from gold and diamond jewellery to gemstones and watches. The show also includes a series of seminars and lectures offered by the International Gemological Institute (IGI) to discuss the latest trends and developments in the global jewellery industry.
Countries being represented during the current edition include the United States, Italy, the United Kingdom, Belgium, Russia, Lithuania, Egypt, Lebanon, the UAE and Saudi Arabia, among others.
The event was inaugurated by Shaikh Abdullah Bin Salem Al Qasimi, Deputy Ruler of Sharjah.
Abdullah bin Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry, said that that the jewellery market in the UAE has seen a 6 per cent growth in demand since the beginning of 2016.
“The MidEast Watch & Jewellery show reflects the leading position of Sharjah in the trade shows and exhibitions industry which aim at promoting the trade and commerce in the emirate of Sharjah and the region. The trade fairs also aim to support various business sectors that consider Sharjah as a platform to expand into the regional market and access global markets,” Al Owais said in a statement.
