Doha: As the Doha Jewellery & Watches Exhibition (DJWE) drew to a close yesterday at Doha Exhibition and Convention Center (DECC), exhibitors revealed that their sales, particularly the wedding jewellery collection, have increased.
Kiswah Heritage Art & Jewellery Managing Director, Yasir Kantarci told The Peninsula that there is an increased demand from people for jewellery compared to the previous years. “We have been participating for the past three years and each year, we saw an increase of sales. Aside from the diamond, the wedding jewellery is boosting sales drastically. And we can also notice the trend for customised jewellery pieces especially here in Doha.”
Nouf Al Meer, owner, founder and designer of Nouf Jewellery, said that people are investing more in jewellery, especially as the wedding season has started.
Sameera Almulla, founder of Hessa Jewels, said that although the country is still recovering from the pandemic, the number of jewellery buyers are growing.
H Jewellery founder, Hamad Al Mohammad, said that as Qatar will be hosting the FIFA World Cup, people are purchasing jewellery especially the customised pieces as gifts. He also mentioned that for the past two years he has been participating at DJWE and his sales keeps on improving.
Ali Hussein Alfardan, Vice-Chairman of Alfardan Group and President of Alfardan Jewellery, and part of DJWE’s Big Nine, said in a press conference recently that this year’s exhibition is “special.” “All the big brands in the world are participating at DJWE – this is a big achievement.”
He also stressed that Qatar’s jewellery industry has a “big future as people are following the exhibition.” “The exhibition is getting bigger and bigger, it’s getting very famous worldwide and a lot of brands are interested in participating.” Over 70 renowned brands joined Alfardan pavilion for this year’s edition.
Qatar’s most eminent jewellers or the Big Nine aside from Alfardan Jewellery, include Ali Bin Ali Luxury, Al Majed Jewellery, Al Muftah Jewellery, Amiri Gems, Blue Salon, Bvlgari, Fifty One East and Louis Vuitton.
According to a report from World Gold Council, the gold market sees solid start to 2022. “Q1 gold demand was 34% above in Q1, 2021, driven by strong ETF (exchange-traded fund) inflows.
In a quarter that saw the US dollar gold price rise by 8%, gold demand (excluding OTC) increased 34% y-o-y to 1,234t – the highest since Q4 2018 and 19% above the five-year average of 1,039t.” It added: “The Ukraine invasion and surging inflation were key factors driving both the gold price and demand.” The World Gold Council is the market development organisation for the gold industry.
Meanwhile, according to The Global Diamond Industry 2021–22 report the 2022 market is expected to demonstrate growth higher than the pre-pandemic period and return to historic growth pace by 2023–24.
