Dubai Gold & Jewellery Group unveils exciting DSF promotions offering 32 kilogrammes of gold winnings

The Group has also introduced a special ‘Win with the winner’ scheme for participating retailers whereby they receive a cash award if the winning coupon was obtained from them.

“DSF is one of the biggest festivals for gold jewellery sales. More than 400 jewellery outlets all over Dubai are expected to participate in this year’s DSF. With fabulous chances of winning 1 kg of gold daily, customers can look forward to an exciting time. The retailers have already started stacking up new trendy jewellery designs in anticipation of increased demand,“

said Tawfique Abdullah, Chairman, Dubai Gold & Jewellery Group.

“We expect this year’s DSF to generate a total of Dhs1.2bn in sales, an increase of 20% over last year. Though gold prices are high, with the large number of visitors expected and the active support of our members, we are very positive about the results. Research shows that most visitors who come to Dubai purchase gold as the city provides excellent quality and variety of jewellery at the world’s best prices, true to its reputation as the ‘City of Gold’,” he added.

To try a hand at winning, all customers need to do is purchase Dhs500 worth of gold jewellery from any of the DSF participating outlets in Dubai. The accompanying coupon will allow them to enter the daily raffle draw for 1 kg gold.

Since the inception of DSF in 1996, DGJG has given away more than 600 kilos of gold in prizes.

As a key destination for gold and jewellery shopping, Gold Souq is gearing up to celebrate the largest retail event for the industry. Decorations and illuminations will adorn the Souq, there will also be entertainment and street performances throughout DSF.

DGJG’s DSF promotions are in association with the World Gold Council. Moaz Barakat, Managing Director of the World Gold Council, Middle East, Turkey and Pakistan, said: “We are happy to support the Dubai Shopping Festival which greatly benefits the jewellery trade. DSF brings the entire industry on a common platform which helps to drive retail sales higher. Dubai would not have achieved the status of ‘Dubai, the City of Gold’ without the joint efforts of the Dubai trade and Government of Dubai.”

Talking about the developments in Dubai’s gold and jewellery industry, he added: “The average gold price in 2006 was $604 per ounce compared to $698 in 2007, which is an increase of 15.56%. The UAE gold consumption in terms of tonnage increased from 78.0 tonnes within the first three quarters of 2006 to 85.5 tonnes in the same period of 2007, contributing to a 10% increase. The UAE sales value increased from Dhs6.3bn within the first three quarters of 2006 to Dhs7.7bn in the same period of 2007, showing a 22.2% increase.”

Total gold import figures in the first three quarters of 2006 was 361 tonnes compared to the same period in 2007 which was 452 tonnes. This is an increase of 91 tonnes which is a remarkable 25.2% increase.

Apart from World Gold Council, the Dubai Gold & Jewellery Group campaign is supported by Visa as the preferred payment partner.

Speaking on the campaign launch, Laila Suhail, Chief Strategy Officer of DSF said: “DGJG’s special promotions add a golden touch to DSF every year. Lucky winners get to walk away with kilos of gold free. Considering the intrinsic value of gold and its appreciation, this is a great incentive for jewellery shoppers. Every year the promotions generate enthusiastic participation from all and we look forward to a great response this year.“