Dubai, UAE: World Gold Council, AngloGold Ashanti (AGA) and Al Zahra Jewellers, have entered into a strategic alliance to promote a wide range of 18K gold jewellery. The objective behind this co-operative marketing project between AngloGold Ashanti and Al Zahra Jewellery is to impact positively on the consumption trends for gold jewellery by focusing on product quality and progressive design.
AngloGold engaged with Al Zahra Jewellery which is a large retailer and wholesaler of gold jewellery in the Middle East, and the World Gold Council to develop a business concept to launch and promote at retail shop level collections of mid to high end gold jewellery from Italian based manufacturers.
The alliance will have a positive impact on gold jewellery consumption trends in addition to the introduction of innovative Italian designs in the marketplace, promoting modern retailing, merchandising and creating sustainable gold jewellery consumer brands.
Moaz Barakat, Managing Director for Middle East, Turkey & Pakistan, World Gold Council, said: "As part of the World Gold Council's commitment to promote gold in the region, WGC has entered in to a partnership with AGA and Al Zahra to develop a business concept that promotes mid-end to high-end 18K gold jewellery from product ranges of Italian-based manufacturers."
Barakat also explained that the high oil revenues and the increased tourist influx to the region have impacted positively on gold jewellery consumption. Demand for high lifestyle, luxury and branded products is still growing in the region and the challenge to the gold category is sustaining the already high gold consumption per capita rates compared to the population growth and per capita disposable income.
The Middle East gold jewellery market has always been one of the important markets for the Italian jewellery. Italian gold jewellery is known for its unique design derived from an uncompromising sense of quality achieved through refinement and research.
Rian Raghavjee, Manager Projects AGA, commented, "the Middle East region has the highest per capita gold consumption rates globally. Our challenge with Al Zahra and WGC is to ensure that gold remains a compelling attraction for these consumers and that it competes more effectively with other modern lifestyle and luxury goods. We are excited by this collaborative marketing project and look forward to having it contribute positively to the gold category in the region"
Faiz Papadopoulos, owner of Al-Zahra Jewellery, stated: "Our goal is to enhance and promote the purchasing of gold including 18k Italian ornaments, which is recognized for its unique style and its great quality. By engaging with World Gold Council and Anglo Gold Ashanti, this marketing project will definitely improve the consumption of Gold in the U.A.E and in other parts of the Middle East."
Al Zahra Jewellery will be importing and selling mid to high end 18K gold jewellery. It currently sells its jewellery in the UAE, KSA, Qatar, Bahrain, Oman, Kuwait, Lebanon, Syria, Iraq, Iran, Egypt, Libya, Nigeria, Congo, and Somalia. Al Zahra is willing to aggressively import, promote and sell more Italian made jewellery thereby increasing the presence of high-end 18K Italian ornaments.
The funds used in this project will be utilized to fund additional inventory to enable Al Zahra to expand its Italian product offering, developing promotional retail material, more impactful collection launches and pre and post research findings.
AGA, Al Zahra and WGC have entered into this project with what they all agree to be a credible, strong and reliable partnership.
-Ends-
About World Gold Council:
The World Gold Council is a global organisation, formed by an association of the world's leading gold mining companies, whose aim is to promote the end-use of the unique and precious metal which they all produce - GOLD. As the industry's marketing arm, the Council, with its global presence, marshals the skills and resources needed to create the market conditions that will allow consumers and investors unhindered access to gold and gold products. As a publicist for gold jewellery and other end-use markets such as industrial use, and investment, the Council works to address any major consumer issues. The Council is a source of data for the gold industry, providing balanced information on gold demands and trends to market participants and key influencers of the financial markets. The World Gold Council brings users, investors and consumers closer to the metal of their choice - GOLD.
About AngloGold Ashanti:
AngloGold Ashanti is one of the world's leading gold producers. The company produced 5.6 million ounces of gold in 2006 from 21 operations located in 10 countries on four continents. AngloGold Ashanti currently operates in South Africa, Argentina, Australia, Brazil, Ghana, the Republic of Guinea, Mali, Namibia, Tanzania and the United States. Gold exploration projects are underway in Western Australia, Colombia and the Democratic Republic of Congo (DRC), and through exploration partnerships and joint ventures in Colombia, Russia, China, the Philippines and Laos. Headquartered in Johannesburg, South Africa, AngloGold Ashanti's primary listing is on the Johannesburg Stock Exchange (ANG). It is also listed on the following securities exchanges: New York (AU), London (AGD), Australia (AGG) and Ghana (AGA), as well as Euronext Paris (VA) and Euronext Brussels (ANG). AngloGold Ashanti seeks to ensure a healthy market for gold and gold products through a marketing programme comprising projects designed to increase gold's desirability and grow gold demand, assuring the future market for the company's product.
About Al Zahra Jewellers:
Al-Zahra Jewellery was founded in year 1989.It is a company that deals with wholesaling gold in regions such as the GCC countries, the Middle East and many other parts of the world. Its mission is to provide the best quality gold ornaments that possess a unique style to consumers around the world, by keeping in mind their number one priority: customer satisfaction. They also provide Arab customized designs to manufacturers abroad, working with the Arab market, in order to help them accommodate with the Arab tastes thereby enhancing sales and benefiting their customers at the same time.
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© Press Release 2007
