The purpose-designed boutique, in Dubai’s Beach Road Jumaira Plaza Shopping Mall, marks a major retail diversification move for the multi-faceted Falaknaz Investment Group (FIG), which has the exclusive UAE franchise rights for the renowned Benedetti-Milano branded boutiques. With a project investment in excess of AED 1 million, FIG plans to launch a second of the uniquely styled boutiques in Abu Dhabi.
The opening came as the Italian Trade Commission (ITC) revealed the UAE has now surpassed Saudi Arabia as the country’s leading GCC export market with Italian imports into the Emirates in the first five months of this year increasing 9% on the corresponding period last year. This comes on top of a 14 per cent rise in 2000, compared with 1999.
“Jewellery and gold items are currently Italy’s leading export commodity to the UAE and we are looking to leverage the country’s market-leading position for this sector,” said Abdul Rahman Falaknaz, Chairman, FIG, who attended the opening along with Vice Chairman, Mohammed Falaknaz.
According to Massimo Sessa, Italian Trade Commissioner in Dubai, Italian exports to the UAE touched US $1,606 million last year – with jewellery and gold items accounting for 24.5% of the trade, making Italy the fifth trading partner of the UAE after the United States, Japan, the United Kingdom and Germany. In comparison Italian exports to Saudi Arabia amounted to US $1,436 million in 2000.
Sessa, who attended the opening along with Aldo Volini, Italian Consul in Dubai, commented: “By faithfully reproducing the elegant and modern Benedetti-Milano boutique design, the Falaknaz Group has created a little bit of Italy in Jumeirah.”
“This boutique is very different to anything currently available in the UAE,” said Viken Hadidian, Director of Milan-headquartered Benedetti-Milano. “The uniquely-styled interior reflects our company’s fresh, vibrant, youthful and ultra-modern image.”
The stunningly designed Benedetti-Milano primarily white gold jewellery is aimed at the middle-to-high-end market.
“We produce individual concepts for today’s highly discerning consumer,” added Hadidian. “Initial trial testing of our ranges, which include rings, earrings, pendants, necklaces and bracelets, at trade shows in the Gulf have brought an encouraging response and we believe that together with the Falaknaz Group, we can quickly establish Benedetti-Milano as the brand of choice among the target segments.”
Although only two years old, Benedetti-Milano’s origins date back two centuries and four generations having been formed by the merger of two of Italy’s leading jewellery houses.
“The new generation of the families created Benedetti-Milano to meet growing international demand for Italy-styled jewellery,” added Hadidian.
Wednesday, October 24- 2001 @ 16:01 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.