International News
Dubai Jewellers Reinvent Strategy to Woo Back South Asian Gold Shoppers
As India slashes import duties, Dubai’s gold retailers pivot to unique designs, global sourcing, and superior craftsmanship to retain their core market.
Dubai’s jewellery industry is undergoing a strategic transformation to re-engage its core South Asian customer base, particularly Indian gold buyers, amid shifting global and regional market dynamics. Once favored for its price advantage, the city is now responding to India’s recent reduction in gold import duty—from 15% to 6%—which has significantly narrowed the price gap between the two markets.
This change has impacted buying habits among Indian tourists and residents, many of whom traditionally flocked to Dubai during festivals like Akshaya Tritiya and Diwali for jewellery shopping. To adapt, Dubai jewellers are shifting focus from just pricing to a value-driven experience built on design innovation, quality, and exclusivity.
Retailers are expanding their collections with contemporary pieces sourced from countries like Turkey, China, Italy, and Singapore, while also investing in locally made jewellery that caters to modern tastes. Unique design offerings—such as Turkish and Calcutta styles, temple-inspired motifs, and enamel work—are being emphasized to distinguish Dubai’s offerings from what’s available in India.
Craftsmanship has taken center stage, with retailers highlighting high-quality finishes and intricate details that appeal to a more discerning global clientele. Lightweight yet visually striking designs are trending, along with lab-grown diamond options for consumers seeking affordable luxury.
While the Indian gold rush has slowed, Dubai continues to attract buyers from diverse markets such as China, Singapore, Africa, and Europe. Industry experts note that tourists today are looking for more than just price—they value an immersive shopping experience, rare design aesthetics, and high craftsmanship.
By reinventing its jewellery retail strategy, Dubai is reaffirming its place as a world-class destination for gold and fine jewellery, driven by innovation, variety, and a refined shopping experience.
In a landmark move toward ethical luxury, Chaumet has announced its commitment to 100% gold traceability across all its jewellery collections, beginning in 2025. This initiative will debut with the launch of a new Bee de Chaumet pendant, crafted entirely from responsibly sourced, traceable gold.
With a legacy spanning over 240 years, Chaumet has long drawn creative inspiration from nature—an ethos now deeply embedded in its sustainability journey. As part of the LIFE 360 programme led by parent group LVMH, the Maison is strengthening its environmental and social responsibility efforts, reflecting a broader commitment to nature conservation and ethical craftsmanship.
A member of the Responsible Jewellery Council (RJC) and supporter of the Kimberley Process, Chaumet has also joined the Swiss Better Gold Association (SBGA), which champions sustainable development in artisanal mining communities.
The upcoming Bee de Chaumet pendant, adorned with the brand’s iconic bee motif, symbolizes this ethical shift. Every component—from the pendant and chain to clasps and rings—is made from gold that is 100% traceable and sourced through verified, responsible channels.
While not claiming to transform the mining industry overnight, Chaumet’s initiative marks a significant step in promoting transparency and integrity across the jewellery value chain—setting a high standard for the future of sustainable luxury.
As part of its outreach campaign for the upcoming Saudi Arabia Jewellery Exposition (SAJEX) and IIJS Premiere 2025, the GJEPC recently concluded a door-to-door initiative in Kuwait, engaging directly with key players in the local jewellery industry.
The GJEPC team met with 92 top retailers from key markets including Al Mubakariya, Souq Al Wataniya, Souq Al Sharq, and the Farwaniya Gold Market.
The focused meetings with leading retailers, manufacturers, and wholesalers, offered insights into the Kuwaiti market’s preferences and dynamics. The response was highly encouraging, with strong interest expressed in attending SAJEX 2025, which is set to become a vital networking hub for the jewellery industry across the MENA region.
International News
De Beers CEO Al Cook Engages with GJEPC Leaders During Strategic Visit to Mumbai Office
Al Cook, CEO of De Beers Group, visited the Gem & Jewellery Export Promotion Council (GJEPC) office in Mumbai, reinforcing the group’s commitment to deeper collaboration with the Indian diamond industry. He was accompanied by senior executives including Paul Rowley, Executive VP – Diamonds Trading; Shweta Harit, Global Senior VP; and Amit Pratihari, VP of De Beers Forevermark India.
The visit follows the successful joint launch of the Indian Natural Diamond Retailer Alliance (INDRA) earlier this year—a strategic initiative to boost India’s natural diamond retail ecosystem.
Mr. Cook and his team were welcomed by a distinguished delegation from GJEPC, including Shaunak Parikh, Vice Chairman; Russell Mehta, Advisor to the Chairman; Ajesh Mehta, Convener – Diamond Panel; Diamond Panel Members Anoop Mehta, Nilesh Kothari, Anil Virani, Manish Jiwani, Ashish Borda; and Sabyasachi Ray, Executive Director.
The meeting featured in-depth discussions on pressing industry topics such as traceability, G7 compliance, funding challenges, U.S. tariffs, and marketing strategies, aimed at strengthening India’s global competitiveness in the diamond sector.
The engagement signals a continued partnership between De Beers and GJEPC to drive growth, innovation, and transparency across the diamond value chain.
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