Siroya Jewellers celebrates 25 years since opening its first Meena Bazaar showroom in 2001. Owner Chandu Siroya reveals how Dubai’s jewellery market evolved from traditional gold purchases to diamonds, lightweight designs and stronger international trade.
DUBAI: Twenty-five years ago, Siroya Jewellers opened its first retail showroom in Meena Bazaar, when gold shopping in the Bur Dubai district looked very different. As the landmark outlet marks its silver jubilee, owner Chandu Siroya has recalled how traditional gold, diamond jewellery and changing budgets transformed one of Dubai’s best-known shopping neighbourhoods.
The showroom opened in January 2001, Siroya recalled, following years of manufacturing and wholesaling jewellery. He traces the family’s UAE jewellery roots to 1976, with the independent Siroya business taking shape in 1992. Opening a store gave the company direct contact with customers and their preferences.
From an early showroom to a jewellery destination
At the time, he recalls, Khushi Jewellers was the only other dedicated jewellery showroom in that part of Meena Bazaar. More retailers arrived over the following years, transforming the neighbourhood into a busy destination for wedding purchases, festive shopping and family gifts.
Expansion came gradually. It took almost a decade to open another outlet, with stores later added elsewhere in Dubai, including Karama. Siroya said wholesale remains central to the business, accounting for around 95 per cent of its portfolio.
How diamonds and lighter gold changed buying habits
The biggest change inside showrooms has been the rise of diamonds. Traditional 22-carat gold was the preference for many Indian customers, while 21-carat gold was popular among Arab shoppers. Diamond collections were once largely limited to engagement and wedding rings.
Today, Siroya estimates diamonds occupy 30 to 40 per cent of display space in many jewellery stores. Advertising, new designs and younger buyers helped make them part of everyday jewellery shopping.
Price has reshaped gold purchases too. A set that once weighed 70 to 100 grams may now be replaced by a much lighter design starting at around 10 grams. Demand for more affordable pieces has encouraged creativity in 18-carat and 14-carat jewellery, without abandoning traditional styles. He sees the shift as more than a response to cost: shoppers want jewellery that feels modern, works for different occasions, and still reflects the traditions that brought families to Meena Bazaar.
Why Dubai remains competitive
For Siroya Jewellers, Dubai’s strength lies in its international customer base. Its retailers serve diverse tastes, from South Asian wedding jewellery to contemporary designs sought by shoppers from other regions.
Siroya also credits the India-UAE Comprehensive Economic Partnership Agreement with expanding jewellery trade. He recalled the company receiving one of the first consignments under the agreement, which took effect in 2022 and helped Indian-made jewellery reach wider markets through Dubai.
As gold prices fluctuate, Siroya expects them to consolidate, although that remains his forecast rather than a certainty. For Siroya Jewellers, the more lasting lesson is the value of adapting while retaining customer trust.
Impact to expect
The anniversary highlights how Meena Bazaar’s established businesses are responding to changing budgets and tastes. Shoppers can expect a broader mix of lightweight gold and diamond jewellery, while Dubai’s trade links with India continue to support design variety and supply.
