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12 April 2024

Buying gold in Dubai will be like going for grocery

By VM Sathish

Gold and diamond jewellery retailers are now opening small kiosks to cater to busy customers and tourists.

Taking a cue from supermarket chains that have opened their miniature versions, BRR Jewellery, a relatively new entrant into the retail gold jewellery business in Dubai, has started what it calls BRR Gold Express to sell gold to people on the go.

Sky Jewellery has set up an express outlet for diamonds, Damas is in the process of opening a miniature outlet in the Gold Souq or Gold Centre.

Other major gold retailers may open kiosks in malls.

Says Ramesh Ramani, chairman and managing director of BRR Jewellery, “This is the first gold express kiosk in Dubai’s Gold Centre. We have already opened big outlets with more than 1,500 square feet of space.

“This new BRR gold express outlet has only 60 square feet of space and is manned by three to four staff.

“A normal showroom will require relatively more space and more than a dozen employees,” adding that other jewellers in Dubai will follow BRR’s gold express route.

“It is a new concept in gold retailing where customers can come and pick up gold ornaments quickly and conveniently.

“Right from bangles and gold bars to chains and coins, we have it all in our small gold express outlet,” he added.

Tourists visiting the UAE have been a major source of business for jewellery retailers and such convenience stores are expected to be useful for busy tourists.

BRR Gold Express officially opened its first kiosk in the Gold Centre, a hub of Dubai’s wholesale and retail gold business, which is already cluttered with big and small jewellery outlets.

“Any customer visiting the Gold Centre will not miss this express outlet. We have a collection of gold coins, gold chains, bangles, bullion and small diamond pendants.

“Customers have little time these days and those who enter a big showroom have to waste a lot of time.

“Visitors to gold express outlets can choose quickly and leave. There is enough stock of these items in the kiosks and in case of bulk orders, we can call our other outlets in Deira,” said Ramesh, who is planning to open gold express outlets in Karama and Al Qusais, two busy locations for Indian jewellery traders.

Sky Jewllery, another Indian jewellery retailer, has opened an express outlet for diamond ornaments at the Gold Centre.

“This outlet is meant for busy customers, especially tourists, who come, buy and go immediately. We have been doing very well,” said an official from Sky Jewellery’s express outlet in the Gold Centre.