Middle East targets third place in loose diamonds

After having lost out to India, the Middle East is now eyeing to be among the top three regions in sales of loose diamonds. Middle East is currently placed in the fourth position after US, Japan and India.

Speaking to Khaleej Times, Anan Fakhreddin, Diamond Promotion Service Director (Gulf Region), DTC, said, "It has been a neck to neck race between for the two regions all along and in fact about two years ago, ME had occupied the third slot but has now given way to India."

However, a couple of good years of loose diamonds sales in the region should help ME retain the lost position, adds Fakhreddin.

In a bid to offer superior diamond jewellery, Rosy Blue, the world's leading diamond manufacturing company has announced its new business initiative (BI) with DTC's (Diamond Trading Company) and also a retail partnership with Pure Gold Jewellers for the launch of Omri in the UAE market.

As per the agreement, Rosy Blue's Omri will be an official BI, supported by the DTC. Pure Gold will have the exclusive retail rights to the newly launched collection in the UAE.

"Omri stands for a bond which comprises love, strength and hope and reflects life's priceless moments that celebrates the future and the good times to come. We are confident that the exquisite collection will be a success, with its contemporary yet timeless design made for significant relationships and life events — these pieces create lasting memories and family heirlooms," said Firoz Merchant, Chairman, Pure Gold Jewellers LLC.

"Omri is Rosy Blue's signature line and it represents our rapid growth in the region. Our aim is to familiarise our customers, increase their confidence, awareness and offer them better clarity when it comes to buying diamond jewellery," said Harshad Mehta, Chairman, Rosy Blue FZE.

"We are confident that Omri, with our retail partner Pure Gold's support, will appeal to women of all age groups and nationalities," adds Mehta.

The company is investing $3-million in promoting the Omri brand in the UAE, which will be followed by Saudi Arabia, Kuwait, Oman and Bahrain over the year.

As a market leader for the past two decades, Pure Gold has led the ISO movement in the jewellery trade. They were the first jewellery retailers in the ME to gain ISO certification.

One of the key business development services of the DTC's BI programme is a post BI workshop in which Rosy Blue can explore topics of it's choice aimed at increasing their impact in the marketplace and drive profitable growth for Omri in the Gulf.