The recent spike in gold prices is not expected to impact jewellery demand in the long term, according to Aditya Singh, Head of Jewelry International Business at Titan. Singh believes that the value of gold in jewellery is constant regardless of market fluctuations, and people will continue to buy jewellery. Tanishq recently launched its Onam collection in Dubai, inspired by the harvest festival in Kerala. Singh mentioned that people celebrate various occasions for different reasons, which drives their purchasing decisions. This new collection is part of Tanishq’s expansion in the UAE, with the brand opening its 14th store in Sharjah after the success of its first store in Dubai in 2020.
Kuruvilla Markose, CEO of International Business at Titan, highlighted the vibrant market in the Middle East and the benefits of the Comprehensive Economic Partnership Agreement between the UAE and India. This agreement allows duty-free imports of Indian-made jewellery into the UAE, making it an attractive shopping destination for customers from the US and Europe. With prices in India still higher than in the UAE, many tourists transit through Dubai to purchase jewellery. Markose does not anticipate this trend changing anytime soon. To further attract customers, Tanishq is offering discounts of up to 25 percent on gold-making charges and diamond jewellery as part of its Onam celebration. The collection is available in all Tanishq stores and online platforms.
According to Singh, the beauty of gold jewellery transcends the fluctuating market prices of gold. This sentiment is reflected in the continuation of jewellery demand despite the recent spike in gold prices. Tanishq’s Onam collection, inspired by the cultural significance of the festival in Kerala, serves as a testament to the brand’s commitment to offering meaningful and celebratory jewellery pieces. The success of Tanishq’s stores in the UAE underscores the growing interest in Indian jewellery in the region, driven in part by the duty-free import agreement between the UAE and India. Customers from around the world are drawn to the UAE for its competitive prices on Indian jewellery, making Dubai a popular shopping destination for tourists.
Markose emphasized the dynamic nature of the Middle East market and the strategic importance of the UAE as a hub for Indian jewellery exports. With the strong ties between the two countries and the favorable agreements in place, the future looks bright for Indian jewellery brands looking to expand their presence in the UAE. Tanishq’s decision to offer discounts on its Onam collection further strengthens its position as a leading jewellery brand in the region. As customers continue to seek out unique and culturally significant pieces, Tanishq’s offerings cater to a diverse range of tastes and preferences, making it a preferred choice for shoppers in the UAE.
The partnership between Tanishq and Titan reflects a shared commitment to quality craftsmanship, cultural authenticity, and customer satisfaction. By offering discounts on their Onam collection, Tanishq is not only celebrating a traditional festival but also inviting customers to partake in the joy of festive shopping. As the interest in Indian jewellery grows in the UAE, Tanishq’s strategic expansion and promotional efforts are likely to further solidify its position as a trusted and popular jewellery brand in the region. The ongoing success of Tanishq’s stores in the UAE is a testament to the brand’s ability to resonate with customers and offer meaningful jewellery pieces that capture the essence of traditional and contemporary design aesthetics.
