Tuesday, 8th June 2004 (4054 views)

Branded gold jewellery is becoming increasingly popular in the UAE according to latest figures.

The jewellery is reportedly creating a new fashion trend and removing the conventional idea of gold and jewellery as an investment tool.

Among the brands already launched in the first quarter of 2004 are Atlas, Pure Gold, Damas and Intergold.

Moaz Barakat, Managing Director, Middle East, Turkey and Pakistan, World Gold Council told the Khaleej Times: "The UAE market has witnessed the new trend in gold jewellery which is being treated more like a fashion accessory rather than an important possession of value.

"The branded jewellery is gaining more popularity as it cashes on human emotions which touch the sentimental aspects of customers and hence have wider reach."

Every mall in Dubai features leading brands that have all agreed jewellery branding is important in service quality and defining brand strategy.

Gold consumption is on the increase in the UAE, latest WGC figures show that jewellery consumption increased by 22 per cent to 26.9 tonnes and retail gold sales rocketed by 41 per cent in the first quarter.

 

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