Gold and Jewellery Group Dubai sets members challenge to double turnover in next two years

Mr. Abdullah set the challenging benchmark to over 500 of his colleagues in the Group at the organisation's annual gala gathering at the Intercontinental Hotel in Dubai that celebrated another record-breaking year for the gold and jewellery trade.

The gala evening, at which a number of Group members and partners were given awards for their contribution to the ongoing success of the industry in Dubai, this year had a special James Bond 'Goldeneye' theme to add drama and excitement to the gathering.

During a keynote opening speech, Mr. Abdullah said: 'Tonight I would like to set our Group the challenge of doubling the turnover of our industry in the next two years. I believe market conditions are right and the major developments planned for Dubai over the next 24 months will help us to meet this new challenging benchmark of success.'

An anticipated significant increase in visitor numbers, of whom between 90 and 95 per cent would be expected to buy jewellery in Dubai, improved marketing and merchandising by the Gold and Jewellery Group Dubai, the opening of new malls and specialist retail outlets will all help to stimulate sales, argues Mr. Abdullah.

'Our industry has grown and prospered over the past decade through setting ourselves ambitious, but achievable targets. I am confident that given the strength and buoyancy of our trade and the retailing excellence of our members we can reach this new target.

'Dubai remains the most dynamic and vibrant jewellery market in the world and the efforts of our members has led to our Group and its activities becoming increasingly noticed all over the world,' added Mr. Abdullah.

During the Gala Gathering Mr. Abdullah and Group Vice-Chairman Mr. Hani Rashed Al Yateem awarded six Special Appreciation Awards given by the Group Board for their achievements in helping the development and success of the gold and jewellery industry in Dubai. The six recipients were Hussain Al Jaziri, Legal Adviser, Marwan Bin Bayat, DTCM, Mohammed Badri of Dubai Municipality, Andre Bisang, Chief Advisor to the Group, D V Pathy, Conference Committee Member, GJG and Chetan Karani, Chairman Basel Organising Committee, GJG.

Star Performer Awards were given to 20 leading jewellers based on their performance in retail promotional activity over the past two years. The awards are designed to foster healthy competition among Group members to maximise the impact of retail promotions, increase sales and enhance customer satisfaction.

Since its creation in 1996 the Gold and Jewellery Group has grown to its present membership of over 520 members drawn from across the spectrum of the industry to include retailers, bullion traders and manufacturers.

The Group has led the way in the creation of pioneering retail promotions and has firmly established Dubai on the world stage as the City of Gold and Jewellery.

As the Group has matured and developed it has now become increasingly active on the international industry stage, hosting two major international conferences and taking a leadership position in meeting the challenge of marketing jewellery internationally to meet the growth of consumer lifestyle and fashion products.

The successful launch of the Dubai Pavilion at the recent Baselworld Conference is now set to be followed by growing participation by the Group at major international jewellery industry events where Dubai can be positioned as one of the world's most dynamic and important hubs for the gold and jewellery industry.