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11 December 2023

Jacket worth half-a-million at Gold Souq

The value of a full jacket can go up to a million dirhams, says retailer

By VM Sathish

It couldn't get any better for lovers of the yellow metal! If Dubai Shopping Festival saw gold sales rocket, then merchants are at their innovative best to ensure the city of gold remains the prime destination on gold shopper's list.

From basic ornaments to exclusive one-of-its-kind jackets...you can have them  all in shimmering gold! Made in 22 carat, the ladies jacket weighing about 3kg sells for a cool Dh540,000 (at the curent price).

Marwan Yafe, Sales Manager, Al Romaizan Jewellery, Gold Souq, said: “This is a new product that we have introduced in the UAE market. The full ladies jacket is made of pure gold. There were two pieces displayed here - one weighs 3kgs and is worth Dh540,000 at the current market price. We have already sold the other to a Saudi customer."

The value of a full jacket can go up to a million dirhams, he added. “This gold jacket is targeted at affluent Arab and Indian customers who don’t mind spending even a million dirhams for a gold jacket. We are take orders after accepting Dh20,000 as advance. The remaining we collect at time of delivery," Marwan said.
“This is a good form of investment, too. We are ready to make even 6kg gold jackets, if the customer so wishes, which would cost about a million dirhams," he added.

The Saudi-based jewllery chain has branches in Dubai and other emirates. "But the gold jacket is available only at the gold souq outlet." The jacket is currently designed in Bahrain and imported to the UAE, Yafe said.

“An Indian customer has also expressed interest. We expect more customers from the Middle East, India, China and Europe to is invest in such jackets," he added.
Pure Gold had sold three golden blouses, weighing about 2.5kg, last year. “Now we don’t have  gold blouses," said a salesman.