Mena Markets: the new frontier for DiamArt
DiamArt was born to be an international brand which would carry its uniqueness all over the world.
This principle was written into its founding deeds, and this is why the company first approached foreign markets back in 2015, when the brand was still young but with very clear ideas.
On that occasion, participating in "VicenzaOro Dubai", DiamArt made the most of the opportunity to showcase its ideas and demonstrate its appeal, which attracted jewellers and specialists from the luxury market of the Arab Emirates.
The previously unseen technique for the application of micro diamonds on surfaces, albeit still being fine-tuned, gave rise to many positive comments, which encouraged further research and technical trials in subsequent years.
This unmissable event for the luxury sector of the MENA (Middle East and North Africa) markets was the boost that drove the next stage of development of the application techniques, as well as providing an exceptional new opportunity for publicity.
It was actually thanks to this that DiamArt was able to officially launch on this market in 2019, and also thanks to Sam & Bros, a Dubai-based company which had been trading in jewellery and luxury goods since 1997, and which identified DiamArt as an Italian brand it could rely on to conquer new segments of the luxury market.
Together, DiamArt and Sam & Bros entered the MENA markets armed with enormous expertise in the luxury sector and in-depth knowledge of the market, which they put to good use, continuously monitoring the various key aspects of the market and its consumers - essential for success.
The key that unlocked DiamArt's role as official supplier to the MENA markets was its portraits in micro diamonds. Indeed, DiamArt is the world's first and only producer of portraits in natural micro diamond. A landmark product, recognised as unique by customers, admired and purchased
Another key product in DiamArt’s successful entry to these markets was the depiction of the United Arab Emirates logo with inserts in micro diamonds. DiamArt therefore joined the list of suppliers for the UAE and the Qatar Department of Protocol, thanks to the high quality of its most significant and representative products.
For the near future, DiamArt is also working on an exclusive new product line: a collection of women's handbags.
It was the Sam & Bros Co. founder and CEO, Fakhri Tarabein, who chose DiamArt; today the two firms are - as he likes to say - partners in responsibility and partners in success. He tells us more in this interview.
What are the features of the MENA markets, and how do they differ from western markets?
To best describe the markets of the Arab countries, I use a quote: "Change is the only constant". In order to understand the behaviour of the market of the UAE and the neighbouring GCC countries (Bahrain, Kuwait, Oman, Qatar and Saudi Arabia), we need to consider two aspects.
The first is that these countries are hungry for luxury goods. Their consumers are increasingly educated and enthusiastic; a target audience particularly keen to buy luxury items in special and limited editions. The fact that a product is made in Italy has a positive impact on the buying decisions of Arabic consumers.
However, the market is not as simple as one might think - even someone who, like me, has been working in it for years. If we're not careful we risk falling into a minefield.
In fact, the second aspect of the market is that the Gulf States (GCC) are undergoing social, economic and cultural upheaval - accentuated by the recent effects of the COVID-19 pandemic - much faster than western countries.
It's not so much about the extent of change, but the speed it's happening. All this makes the current situation extremely difficult, even confusing, for some luxury brands, but it's also very stimulating.
Which luxury items perform best on these markets?
The GCC market is highly attracted by luxury goods, and constantly seeking new products. But what differentiates it from western markets is its appetite for luxury items which are part of Arabic cultural heritage: swords, for example. This is another product we intend to create with DiamArt, including a version decorated with micro diamonds.
How did you come across DiamArt, and how has the collaboration with them been in recent years?
It was love at first sight: the moment I saw the product I was bowled over. I immediately made them an offer and we became partners. Our collaboration is based on one principle: we're partners in responsibility and partners in success.
What is Sam & Bros' credibility in the Arabic market?
Sam & Bros has been dealing in jewellery and luxury goods since 1997. It could be described as an incubator for luxury goods, which takes care of marketing and sales on the MENA markets and worldwide. The firm specialises particularly in jewellery and watches.
In 2006 we opened a branch in the heart of the world centre for luxury, Dubai. Since then we have focused on giving our customers and partners the best possible experience in the MENA markets.
As soon as we went into partnership with DiamArt, we decided to concentrate on products with micro diamonds, because we believe in the uniqueness, the quality and the future of DiamArt.
How soon will you be opening your Dubai showroom? What will be displayed there, and what is the aim?
The opening is scheduled for the first quarter of 2021. The intention is to create an exhibition space where our customers can see and admire all the DiamArt applications and products, from portraits to furniture, right through to handbags and fashion accessories. The aim of the showroom is to become a reference point for anyone who loves luxury.
I agree with the statement: "Italy's reputation for craftsmanship and design has made it the beating heart of luxury manufacturing today".