Aliel enters Middle East’s fine jewellery market

Its slogan sums up its business focus. Adhering to the mission of creating fine jewellery “for the connoisseur,” Italian brand Aliel has defied the credit crunch with the opening of its first Middle East store at the Gate Village in Dubai International Financial Centre (DIFC) on Monday.

The brand undoubtedly caters to a select few who appreciate the fine things in life that money can buy.

Like gold, rare precious stones such as those used by Aliel in its intricately-crafted designs are also being billed as a potential hedge against troubled financial condition.

Mirco Barosso, head designer of Aliel, says their company has been enjoying more than 10 years of continued relationship with its regional partner Khalil Al Sayegh Jewellers.

“We’ve decided to enter this market because we believe that the Middle East stands by our philosophy that fine and high quality jewellery is a tradition,” says Barosso.

Rich Arabs fuel affluent lifestyle

The luxury retail sector in the Middle East has remained buoyant despite the current economic climate, growing at an average of 10 per cent annually, a report released by Bahrain’s Investcorp has mentioned last year.

This growth has been attributed to the region’s young population and their relative high disposable income, especially that of some 373,600 high-net worth individuals (HNWI).

Arab billionaires account for $1.4 trillion of the $32.8trn total wealth of HNWI worldwide, according to the 13th annual World Wealth Report released by Merrill Lynch Global Wealth Management and Capgemini in June 2009.

The study noted that the region’s HNWI population shrunk by 5.9 per cent from the 2008 figures, but the decrease has been minimal compared to global rates – second slowest rate only after Latin America which dropped by 6 per cent.

Standing out with unique craftsmanship

Mohammadali Hassanali, managing partner of Khalil Al Sayegh Jewellers, says Aliel’s unique craftsmanship gives it a leading edge in the fine jewellery business.

“Aliel’s history of passion and perfection spans three decades. It is a brand that echoes many influences,” he said.

Hassanali added that by combining new ideas with ancient traditions and natural materials with cutting-edge technology, Aliel creates pieces that are bold, exciting and timeless in their appeal. The brand is expected to attract customers who want to express their individuality through fine jewellery.

Barroso added that they look to nature for inspiration when designing their jewellery.

“Our objective is to create unique designs and not just to copy existing materials. We want to make sure that each piece of jewellery is rare in itself and that’s where our expertise comes in,” he mentioned.

Hassanali also said that there are plans to open Aliel stores in other key cities in the region in the near future.