Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has assisted India-based Senco Gold and Diamonds in establishing its presence in Dubai.
The company holds 139 showrooms and a trusted reputation spanning five decades. Senco boasts an annual turnover of around $450 million, and the company’s showroom in Dubai will be its first outside of India.
Mr. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers
“Senco’s story represents a perfect outcome for all concerned. We are delighted to have helped such a prestigious Indian company, one of the most respected jewellery brands in the entire sub-continent, to take advantage of the opportunities available in Dubai’s thriving gems and jewellery sector. Dubai International Chamber has had a representative office in Mumbai since 2018, and we remain committed to assisting our members to trade with India, as well as helping Indian companies understand all the benefits of setting up business in Dubai.”
Mr. Suvankar Sen, MD and CEO, Senco Gold and Diamonds, said that “For our global expansion plan, it could not have been any city other than Dubai, “the city of gold”, to start with. We are very much optimistic to start our operation in the next couple of months. And we thank Dubai International Chamber and its India representative office for helping us in every possible way in the incorporation process of Senco Gold & Diamonds in Dubai. We are looking forward to a very positive and prosperous relationship with Dubai Chambers in Dubai and beyond.”
Dubai is an extremely attractive market for Indian gems and jewellery businesses, with numerous Indian brands enjoying a well-established presence in the city.
Senco is now finalizing its UAE banking facilities and plans to open its first showroom in Dubai in August.
The company’s first foray into establishing a physical presence in another market represents an exciting turning point for the business. Senco has been awarded the title of second most trusted jewellery brand in India for the last three years in the Trust Research Advisory (TRA) Brand Trust Report.
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