Damas, the Middle Eastern jewellery company, has announced plans for a 50 per cent output capacity increase at the gold factory which it owns along with Emaar Industries and Investments, according to the Gulf Daily News.
The factory in Dubai currently produces 12 tonnes of gold jewellery each year and the firm has said it intends to meet its targets to increase production by half by the end of 2009.
Speaking to the Gulf Daily News, chief executive of Damas Tawhid Abdullah said: "The demand for gold jewellery in the region is rising and we want to capitalise on that boom."
The newspaper claims approximately half of the gold produced by the factory remains in the United Arab Emirates and the rest is exported.
It adds that in recent years Dubai has become a major player in the gold industry alongside cities such as London, Hong Kong and New York.
This comes in the wake of an announcement from Damas that it is now stocking a new range of jewellery by the Italian designer Genero.
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Year 2000 saw the advent of advertising for diamond jewellery in India in a big way and every woman desired to possess a diamond because of the aspiration value created. Family jewellery stores had small diamond counters, while the larger ones focused clearly on high value diamond sets and solitaires to distinguish themselves from the breed.
At this juncture, and with the need of the times being to create wearable affordable jewellery, the brother duo Mr.Vastupal Jain and Mr. Bharat Shah had a simple aim of having every individual able to gift themselves or their loved ones designer diamond jewellery. They took it one step further by modernizing Indian designs and motifs and nurtured the concept of light weight diamond jewellery through their company NAICE JEWELS that promotes the brand VARAARKAM.
The product line consists of everyday wearable rings, earrings, pendants, necklace sets, bangles. As a brand VARAARKAM was founded in the middle of 2000 by Mr. Vastupal Jain alongwith his brother Bharat Shah. In the early years, the approach was conservative but right now VARAARKAM is getting aggressive to capture a fair part of the jewellery pie.
Bharatbhai is today heading VARAARKAM that include Sales, Marketing & Operations of the business. He is assisted by a young and able team of jewellery enthusiasts with experience in Sales & Marketing, Merchandising and Retail experience. VARAARKAM believes in building and maintaining good relations with the retailers by providing them with the best of the services.
Backed by a fantastic manufacturing facility employing more than 120 people in their company's operations, NAICE JEWELS is well financed, professionally structured with EDP systems in place to take care of future growth. It also has a great amount of export business coming from affiliations overseas and its own marketing offices in London and Italy.
VARAARKAM does not have any shop of its own simply because it wants to play the role of a Desired Supplier to the retailer. The latest collections that have been developed also include jewellery for Men and Kids.
