Rosy Blue, the world’s largest diamond manufacturer launches branded jewelry in the GCC region
AME Info (press release), United Arab Emirates
Extending its expertise and know-how of the 4 C’s – cut, clarity, colour, and carat weight, Rosy Blue, one of the world’s largest diamond manufacturer has now ventured into the branded diamond jewelry market segment and has rolled out an array of eye-catching collection for the GCC region.
Headquartered in Antwerp, Belgium, Rosy Blue has been a leading supplier of polished diamonds to jewelry manufacturers since 1960.
Starting its UAE operations in 1999, Rosy Blue has seen an upward trend in the region’s demand for diamonds in recent years, making the UAE one of the largest trading centers for rough diamonds, and the GCC region the third largest consumer of diamond jewelry in the world. According to the Dubai Chamber of Commerce and Industry (DCCI), in 2005, the value for trade in diamonds was Dhs 25.2 billion – an increase of 72 per cent from the year before.
‘Today, under the vision and leadership of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, the diamond trade industry in UAE has undergone a complete transformation. The Emirates is soon set to become the premier diamond capital of the world, given its strategic location as the business hub and a popular tourist destination in the Middle East region,’ said Harshad Mehta, Chairman of Rosy Blue FZE.
‘We are seeing a situation develop where the region’s consumers and traders prefer the sparkle of diamonds to the glitter of gold. Currently, diamonds command a higher price in the market, and we anticipate a rise in this demand as the consumers’ purchasing power and their awareness of these precious stones increases in the near future,’
said Mehta.
The change in demographics and tastes and lifestyle of the consumers today has seen a shift in preference from gold to diamond jewelry. Capitalizing on this growing preference for branded jewelry, Rosy Blue has invested in strategic business initiatives to expand its own line of branded jewelry in the GCC region.
‘Rosy Blue has a direct presence in more than 15 countries across the world. Our global sales of loose diamonds reached $1.7 billion (Dh6.25 billion) in 2005, with $200 million (Dh736 million) sold in the GCC region and UAE sales worth $40 million (Dh147.2 million),’ said Sanjay Dalmia, CEO, Rosy Blue FZE
One in every 15 diamonds sold in the world is a Rosy Blue, and with its new collection, customers across the GCC region can now purchase the intricate and beautifully designed Rosy Blue jewelry at an affordable price. Targeted at women from varied background, the new collection has been crafted keeping in mind the cosmopolitan tastes and preferences of the women in the region.
