Exports of jewelry from January to February 2017 decreased by 1.9% compared with the same period last year. Meanwhile, in February 2016 it fell by 23.7% compared to February 2015. According to HKTDC, the jewelry sector index rose to 45.1 in the first quarter of 2017 against 30.4 in the fourth quarter of 2016, which is a clear proof that the confidence in the segment of jewelry exports improved.
According to HKTDC, the jewelry sector also showed a higher trade figures for the cost of production, procurement and employment. The organization noted that "confidence in the recruitment segment," it was the highest in the jewelery sector, and the index for this indicator rose from 47 to 48 points.
Confidence in exports is also evident in all key markets. The United States showed the highest level of confidence in the first quarter of 2017 (50.3 points), followed closely followed by Japan (49.8 points) and Mainland China (49.5 points).
Hong Kong jewelry manufacturers are more optimistic about the prospects for the export sector in 2017, as evidenced by the latest export index HKTDC. According to HKTDC data export index rebounded to 47.1 in the first quarter of 2017 with 33.7 in the fourth quarter of 2016, reflecting the general improvement in confidence in the exports in key sectors.
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Pure Gold Jewellers announced plans to invest $ 150 million in the opening of 30 new jewelry stores in the Gulf countries. This decision was taken in order to support the growing demand for jewelry made of 22-carat gold. The campaign "The promise of the lowest price of gold on the market" (Genuine Price Promise) will be available to a greater number of Pure Gold customers. According to the jeweler, "Customers in the Gulf personally experience the transparency of our gold prices relative to global prices. In addition, we have the lowest prices for work on the decoration."
Expansion plan includes the opening of 17 new points of sales specializing in 22-carat gold in the UAE; three stores in Qatar and Saudi Arabia; five - in Oman, and two - in Kuwait. In the UAE, five new stores will be opened in Abu Dhabi; seven in Dubai; two in Sharjah; and one each in Ras Al Khaimah, Fujairah and Ajman. Saudi Arabia plans to open stores in Dammam, Riyadh and Jeddah.
Chairman and founder of Pure Gold Group Fayroz Merchant (Firoz Merchant) said: We are expanding our presence to meet the needs of our loyal customers, who in the future will be able to visit more stores to our network, and purchase products from the 22-carat gold. In 2016, probably the price of gold will be in the range of $ 800-1000 per ounce, so can increase the demand for our products. We are able to meet the needs of more customers. Due to low world prices for gold and our new policy, we will be able to provide the lowest prices for gold jewelry in the market thanks to our campaign, "The promise of the lowest price." Our customers are transparency, economy and the latest designs of jewelry. "
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