The Indian jewellery retailer has launched their store in Dubai Gold Souq.
Despite the demand for gold in Dubai taking a 70 per cent hit in recent months due to the ongoing effects of the Coronavirus pandemic, the well-established Indian jeweller is confident that now is still the right time to move into the Dubai market. The brand has leased a huge five-storey property for its retail and wholesale operations at Dubai’s Gold Souq and one of the benefits of committing to this lease now in such terms of uncertainty is the lower rent.
“I don’t think we are making a mistake by launching our retail operations now. We had been active in the local wholesale jewellery business for four years – the plan was always to step into retail. Through these four years, we always had the wholesale operations in Dubai – it was never felt we should get into retail earlier. I don’t think getting in now is the worst possible time.” comments Khushboo Agarwal, owner of the business.
