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17 April 2024

Indian wholesale jeweller opens retail outlets in UAE

By VM Sathish

An Indian wholesale jewellery trader is opening a chain of ten retail outlets in the UAE.

Majestic Gold and Jewellery LLC, an Indian jewellery chain based in Calicut, Kerala, opened its first retail outlet at Nesto Hypermarket in Sharjah on the Christmas Day. This will be followed by ten other outlets.

Ahmed Ismail, Chairman of Majestic Gold and Diamonds, said, “We are in gold jewellery making and wholesale business for many years and we believe this is the right time to enter the UAE and GCC market.”

He said the new outlets to be opened soon will be in Abu Dhabi and Ajman in the UAE and Dammam in Saudi Arabia.

“We have three jewellery manufacturing units that have been supplying designed jewellery to leading Indian jewellery chains in the UAE. Our opening of new retail showrooms will not clash with our wholesale business,” he said.

“We have ten directors in the new company formed to expand our business in the region. Most of the directors are NRIs,” he added.

The first 100 customers who shop from the new jewellery outlet for above Dh2,000 will get free gold coins weighing two grams.

Malayalam film star Indrajeeth inaugurated the new showroom in Dubai.