By Neeraj Gangal
Italian jewellery stays popular in Kingdom because of its trendiest fashion.
The demand for gold has remained steady in Saudi Arabia despite its increasing costs, with Saudis buying the trendiest Italian jewellery, according to a report on Friday.
A management spokesman for Binan Jewellery told Saudi’s Arab News daily: "Italian jewellery is in great demand because of the trendiest fashion it continues to maintain."
Stunning diamond rings, bracelets, necklaces and pendants made in gold, silver and platinum, as well as precious gems, distinguish Italian jewellery, Arab News said.
"Appealing to the average shopper is the jewellery made in 18K gold, ranging from necklaces to earrings," the spokesperson informed.
According to the daily, Italy nourishes the jewellery industry with the finest designs, and maintains the uniqueness of the designs, highest quality of diamonds, and exceptional finishing.
Italian jewellery used to control the world market till around 2000, but slowly Italian jewellery trade lost its glitter and it began to lose the race to lower-cost rivals from China, India and Turkey, it added.
"But the new jewellery fashion trends set by Italians are catching up and particularly in demand," an Italian diplomat told the paper, adding that the Kingdom has shown a preference for the beautiful designs of Italian jewellery despite the fall out of the world economic slowdown.
In the Gulf region, retail gold sales fell 17 percent during the second quarter of this year, compared with the same period in 2008, according to newswire Reuters.