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Aaron Shum (second from left) at the store's inauguration

LIFEStyle Fine Jewelry opens 30th store

DUBAI, UAE , May 22, 2016

LIFEStyle Fine Jewelry, a leading firm specialising in fine diamond jewellery and watches in the UAE, has opened its 30th outlet in the country.

The store is the first of its kind to feature the Coronet Shop-in-Shop concept boutique, a statement said.

The new store, which opened at the Ibn Battuta Mall in Dubai, is currently exhibiting the 400-carat Coronet Diamond Guitar, valued at $2 million, and a Guinness World Record holder for the most valuable guitar. The piece is adorned with 11,441 diamond studs encrusted in 1.6 kg of 18k white gold.

“This is truly a landmark occasion for us as we open our 30th store in the UAE,” said Aaron Shum, president of Aaron Shum Jewelry. “We are confident that the opening of this new store will play a significant role in promoting the diverse portfolio of exquisitely designed jewellery brands.”

According to a recent study by Bain & Company, retail sales of diamond jewellery have increased over the last two years by over four to eight per cent, with solid performance in the US. The report also shows that hard luxury represents as much as 30 per cent, or more than Dh9.4 billion, of the GCC region's luxury goods market, which has performed better compared to other luxury goods categories in 2015 due to lower sensitivity to non-GCC tourists.

Additionally, the rough diamond segment posted an eight per cent growth last year, which is attributed to continuous sales activity of the world's top five producers. –TradeArabia News Service

 




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