The GCC states' retail gold sales for the second quarter of 2004 rose by 22% from US$ 1.03 billion to US$ 1.253 billion vis-à-vis the same corresponding period in 2003 according to the World Gold Council (WGC).
Kuwait witnessed the largest growth of 28%, Saudi Arabia - the Gulf’s largest market - 23%, the UAE 21%, Bahrain 20% Oman 18% and Qatar five percent.
In addition, the rising gold sales at regional duty free outlets, Dubai Duty Free - up by 40%, Kuwait Duty Free up 21% and Abu Dhabi up 14.08%, has made the region very attractive to global jewellers.
Many international jewellery brands will launch their latest designs at Middle East Exclusive, the region’s only trade exhibition for the luxury goods, duty-free and travel retail industry, which will be held at the Dubai World Trade Centre from November 29 to December 1.
Trade visitors will be able to see a wide range of gold and silver jewellery designs ranging from jewellery targeted at younger customers, to fine jewellery for the connoisseur.
M. Frey Wille, the internationally-renowned Austrian enamel jewellery manufacturer, will launch its latest Hommage á Hundertwasser collection at the show.
The ‘Hommage á Hundertwasser’ collection, dedicated to the 20th century Austrian painter, architect and philosopher, Friedenreisch Hundertwasser, is inspired by his art works and features two jewellery sets – Spiral of Life and Street-rivers.
“The Hundertwasser jewellery collection is not only visually brilliant, it is also a tribute to his distinctive works of art,” said Dr. Friedrich Wille, CEO and President, Frey Wille.
Monaco-based Zeades, which uses sterling silver and multi-coloured Italian leather, will present some of its latest creations at the show. The company, on its first visit to the Middle East, is targeting local distributors, airlines and duty-free outlets for its unique products.
“We see Middle East Exclusive as the place to establish new business contacts in the fast-growing regional market,” said Frederic Brega, Managing Director, Zeades.
Meanwhile, Turkey’s Goldas, which produces licensed silver accessories for Walt Disney, Warner Bros, Lord of the Rings, Garfield, Barbie, Spider Man, NBA, Finding Nemo, Pink Panther, and their own licensed silver accessories Love Sign, Berr, To Remember and 4 Best Friends, will present some of its latest collections at the show. (menareport.com)
