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RJ Market Watch

Digital is the future of Dubai’s jewellery industry



From gold valuation, purity to manufacturing, there is hardly a sector left in the Dubai gem and jewellery industry that has not benefitted from hardware and software technology. Retail Jeweller World understands the market scenario from Mr. Mohammad Saleh Sadeghi, owner-MD, Kuwait Gold.

  1. In the last 5 years, how has technology helped you to enhance your business?

Since the last 5 years, technology has seeped into the very fabric of our operations. Hi-tech gadgets and laser machinery are now being used in manufacturing, soldering and cutting. In design, we use advanced software to predict highly likeable items. Sales and in-store experiences have also undergone a sea change. Distance or logistical barriers enable any customer of Kuwait Gold to place an order from anywhere across the world online. Previously, this was impossible as a customer had to visit our showrooms to purchase jewellery.

Previously, having a manufacturing setup here meant that a jewellery brand can reach out only within The Emirates. Today, e-commerce has lessened the cost of business, exposed the stakeholders to technologies available worldwide to boost efficiency, and reach out to a global customer. Thanks to e-commerce, we now have clients from as far as Europe and Africa. With such ease of procedures, I think the future will be digital for this trade.

  • How has Suntech’s technology helped you in improving your processes and sales? Are there specific instances that come to mind?

I appreciate the ease with which Suntech’s accounting software technology has helped run operations irrespective of pandemic forcing us to work from homes. This has opened another avenue of global workstation wherein a Kuwait Gold employee can operate on this software anywhere. This has helped our production continue glitch-free and answer customer queries across globally.

  • How would you advocate Suntech’s product portfolio when it comes to a retailer’s holistic improvement — both at the front end and back-end?

We have used Suntech’s services for our wholesale wing in Dubai. Our retail wing has been in Kuwait. We plan to start using the accounting services by Suntech for retail soon. Since there is very little difference between wholesale and retail in this part of the country, we wish that the software’s offerings won’t be drastically different than our experience.

4. What is your vision for the jewellery industry till 2025 and your message to your fellow jewellers?

Dubai’s gem and jewellery industry has been progressing in many walks of the trade such as marketing, production and programming. It has been three years since the Dubai government started the VAT system. Taxation at every logistical step from manufacturing to retail and export has created some difficulties for the trading community, while ensuring a lot more transparent way of business. The current scenario in Dubai is normal, but I wish that jewellery trade is much more regulated and thus, safer in future.

Courtesy: Retail Jeweller World News