RIYADH, 2 July 2007 -- A massive promotional drive involving the opening of 80 showrooms will be launched here under a phased plan to boost the sale of diamond jewelry whose sales have registered a double-digit growth in the Kingdom.
Suliman Al-Othaim, chairman of the Suliman Al-Othaim Group, disclosed that a work force of trained Saudi women would also be deployed in the marketing campaign that has seen diamond jewelry sales surge from $450 million five years ago to over $1.2 billion last year, making the Kingdom the biggest market in the Gulf for diamond jewelry.
He was addressing a press conference to announce the partnership with Rosy Blue Trading LLC, the biggest diamond dealer in the world. Together they will launch the Omri brand of diamond consisting of diamond pendants; earrings and rings fancied by teenage girls for its sparkle and glamorous look. The Suliman Al-Othaim Group will be the exclusive dealer of Omri brand in Riyadh.
The entire range consisting of ten brands is known as the "Journey of Love," since the Omri brand bonds with the bride through its eternal sparkle.
Anan Fakhardeen, diamond promotion services director at the Diamond Trading Center (DTC), and Kamal Chandrawansa, general manager (sales and operations) of Rosy Blue Trading LLC, was also present.
Al-Othaim said that the Group owns four jewelry factories, besides the Saudi Gold Refinery Company and Gold Mines Company with a work force of over 600 employees. This is in addition to 20 showrooms, with 80 more planned all over the Kingdom during the next three years as part of its aggressive sales pitch.
They have also set up a separate division, which employs 30 Saudi women to attend on the customers. They have their own showroom with a 100 percent female work force. "We have ten local and ten international brands, and new brands are being added every day to our branches," he observed.
The chairman said the Al-Othaim Group has also opened the Saudi Gemological and Management Institute in collaboration with a foreign partner to train Saudis, including women, in the various aspects of the gem trade, such as cutting and polishing them.
The idea of setting up the institute was first mooted by Minister of Interior Prince Naif who wanted the Al-Othaim Group to take the initiative in the interest of providing job opportunities for Saudis. The institute, launched in a charitable spirit, has graduated a total of 1,500 Saudis, a majority of whom is employed in the same sector.
Suliman Al-Othaim, who studied gemology in the US, and his colleagues with a long experience in the field, wrote some of the textbooks followed in the institute's curriculum.
Fakhardeen said the Kingdom is one of the fastest growing markets in the GCC and also globally. DTC as the world's largest diamond mining company extends financial support to the retailers. He said there would be two more launches this year.
By Javid Hassan
© Arab News 2007
