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24 February 2024

DSF sparks gold rush in Dubai; Sales triple

By VM Sathish

Gold sales in Dubai tripled over the last few days of the month-long Dubai Shopping Festival that wound up on Sunday.

People, both residents and tourists alike, thronged jewellery outlets despite the high international prices of the yellow metal to try their luck at winning the DSF jackpot - 3kg gold.

All Dubai-based jewellery retailers and wholesalers contacted by 'Emirates 24|7' were happy with the sales, especially in the last three days.

In fact, the daily chance of winning half-a-kg gold also lured customers to the yellow metal last month, said several salesmen at jewellery outlets in the emirate.

Six customers of Malabar Gold - an Indian retail chain - won half-a-kg prize during the festive month. A Dubai-based driver Antony was one of the lucky winners. “My good fortune will hopefully help me overcome the tough times I have been facing. I take it as God’s provision for me to leave my troubles behind and start anew," said Antony. His words echo the sentiments of other winners.

Abdul Salam, Executive Director, Malabar Gold, said: “We are happy about sales in Dubai, especially retail outlets located in leading shopping malls such as Lulu Hypermarkets and Karama Centre. We have already achieved a 25 per cent growth in sales during DSF. The last three days have been very encouraging because most people have got their salaries."

Shamlal Ahamed, Managing Director – International Operations, Malabar Gold, said: "We are proud to be one of the key sponsors of the event that is promoted by the Dubai Gold and Jewellery Group. We expect sales to rise by 30 per cent compared to the previous year."

Lucky customers not only walked away with gold but also cash prize of up to Dh2 million during DSF in Scratch n Win promotions on buying pearls, watches and diamond jewellery.

Seven retailers - Damas Jewellery, Joy Alukkas Jewellery, Malabar Gold, Meena Jewellers, Sky Jewellery, Atlas Jewellery and Chittillappilly Jewellers supported the campaign.

Babu John, Managing Director, Sky Jewellery, said: "DSF provides an opportunity for shoppers to win big. We are glad to have taken part in ‘Bag of Fortune’ promotion. We experienced an increased footfall in our store. A lot of tourists as well as domestic walked in."

Several jewellery outlets in Gold Souq too did brisk business.

Since inception of the DSF in 1996, Dubai Gold & Jewellery Group has given away more than 664kg of gold in prizes.