The Middle East and Africa offer lucrative growth opportunities for suppliers seeking to reinvigorate business in a post-lockdown world, according to industry leaders in a recent webinar.

Powered by Jewellery, Gem & Technology (JGT) Dubai, the webinar discussed key lessons from the pandemic, business opportunities in emerging markets, and the role JGT Dubai could play in market diversification strategies.

Organised by Informa Markets Jewellery and the Italian Exibition Group, JGT Dubai makes its debut from February 22 to 24, 2022 at the Dubai World Trade Centre. The B2B trade fair is supported by official partner, Dubai Multi Commodities Centre (DMCC), and industry partner, the Dubai Gold & Jewellery Group (DGJG).

Sharing their insights at the “Making New Beginnings at JGT Dubai” webinar were DGJG Chairman and Jawhara Jewellery CEO Tawhid Abdullah, Jewellers of Confindustria Arezzo President and Giordini srl Partner Giordana Giordini, KGK Diamonds & Jewellery Head of Sales & Marketing Ashish Garg and DMCC Special Adviser – Precious Stones Martin Leake.

According to Giordini, Italian jewellery manufacturers invested in technology and created new product lines during the lockdown to offer clients more lightweight and attractive collections once business resumed. But while digital initiatives helped keep communication lines open, physical trade fairs were essential for jewellers to showcase their products, touch base with existing clients and tap emerging markets.

“Arezzo jewellers export around 27 per cent of their production to Dubai, which serves as a hub to the Middle East and Africa. In 2022, we intend to develop new clients in Central and South Africa. JGT Dubai will provide a valuable platform to help us achieve these goals,” Giordini shared.

Demand for diamond and coloured gemstone jewellery is on the rise in the GCC (Gulf Cooperation Council) countries, which traditionally gravitate towards gold jewellery, maintained Garg of KGK Diamonds & Jewellery. Retailers in the region now realise they can earn higher margins on diamond jewellery, he said.

Garg encouraged suppliers to examine consumer habits for product gaps and to create demand for niche segments by working closely with leading local retailers to bring new concepts to the market.

DGJG’s Abdullah also pointed to a shift in Gulf preferences to smaller, attractive jewellery pieces, from the previously favoured bigger, heavier creations. Dubai is also enjoying substantial business from Central and South Africa, which has been asking for lightweight but more voluminous looks, he continued.

“Dubai has a well-organised gold and jewellery sector. Big companies represent around 65 per cent of the business. Dubai is also a major hub to the Gulf countries and other markets. JGT Dubai is the professional B2B platform we have been needing, and yet another opportunity for us to bring the world together,” Abdullah remarked.

Leake of DMCC highlighted Dubai’s strategic role in the international jewellery industry. Located within an eight-hour flight to 65 per cent of the world’s population, the city accords a positive business climate including tax-free zones, superior infrastructure, a bustling tourism and events scene and robust government support, he said.

“Dubai is a major jewellery trading hub. The mandate of the DMCC is to diversify the economy of Dubai. We want to grow the gold, precious stone, diamond and jewellery sectors, which currently represent around 27 per cent of the GDP of the UAE,” Leake disclosed. “We have done a lot of tenders in the diamond and coloured gemstone space, and the next focus is on the polished and wholesale market. The DMCC is thus fully behind the organisers of JGT Dubai to ensure the fair’s success.”

Please click here to watch the “Making New Beginnings at JGT Dubai” webinar at your convenience.