Meet Jaseel Muhammed Edathil, Managing Director of Meralda Jewels International, who has played a pivotal role in the growth and development of Meralda Jewels, working alongside his father, Abdul Jaleel Edathil.
A driving force in the gold industry segment, Abdul Jaleel Edathil launched Meralda Jewels in 2018, now a celebrated name in bridal and fine jewellery. His passion for excellence and community upliftment shines as brightly as his creations, leaving an indelible mark on business and beyond. Meralda Jewels was founded in Kozhikode in 2019. It expanded to Kochi in 2021, with the launch celebrated by fashion designer Manish Malhotra, followed by a third store in Kannur in 2022, and the fourth store in 2023 in Mangalore. The retail brand entered the Dubai market in October last year. The flagship store is located in Meena Bazar, Bur Dubai and Lulu Hypermarket Barsha.
In an exclusive email interview, Jaseel Muhammed Edathil talks about his ambitious expansion plans beyond India, and over the next five years, Meralda plans to open nearly 30 stores globally.
How do consumer buying patterns differ between India and Dubai? Are there specific styles or preferences unique to each market?
Consumer preferences in India and Dubai vary due to cultural influences, spending habits, and occasion-driven purchases.
In India, jewellery buying is deeply rooted in traditions, with strong demand for wedding and festive jewellery. Gold remains the preferred metal, with intricate traditional designs and heavy pieces being highly valued.
In Dubai, consumers seek a mix of traditional and contemporary jewellery. The Indian diaspora in Dubai still values traditional styles, but there is also demand for lightweight, everyday wear and diamond jewellery.
Affluent buyers prefer modern, minimalist, and international designs.
We tailor collections for both markets by balancing traditional craftsmanship with modern aesthetics.
What trends are you observing in gold and diamond jewellery sales? Is there a shift in demand towards specific types of designs or price points?
While gold remains a strong investment choice, we have noticed a shift towards lightweight, daily-wear jewellery due to fluctuating gold prices.
The younger demographic in Dubai is showing a growing interest in diamonds, driven by aspirational luxury and changing lifestyle preferences.
Consumers are more value-conscious, seeking designs that balance quality, pricing, and trendiness.
To cater to a broad spectrum of clients, we offer versatile collections, ensuring affordability and style.
Does Meralda produce its jewellery in-house, or do you source designs from external manufacturers? How do you ensure quality and exclusivity in your collections?
At Meralda Jewels, we follow a hybrid model. Designs are curated in-house, ensuring uniqueness and brand identity.
We collaborate with select manufacturers across India, known for their craftsmanship and quality, and at our end, every piece undergoes strict inspection for purity, craftsmanship, and durability.
We also customise designs for customers and create limited-edition collections to ensure differentiation in the market. This strategy allows us to offer high-quality jewellery while keeping collections fresh and exclusive.
A growing demand for contemporary yet culturally rooted jewellery gives us an advantage in attracting a broad customer base.
With your recent expansion into Dubai, what are your key focus areas for international growth? What challenges and opportunities do you foresee in new markets?
Our mission is to strengthen our brand presence in the mass-premium segment. We have expanded our footprint in Meena Bazar and Al Barsha, targeting the Indian and international clientele. Moreover, we are enhancing our digital presence and resorting to omnichannel retailing to cater to tech-savvy buyers.
As for challenges, Dubai’s jewellery market is highly competitive, requiring strategic differentiation.
Therefore, introducing our brand’s unique value proposition to a new audience is a challenge.
With gold prices skyrocketing, how has consumer sentiment shifted, particularly in Dubai? Are customers opting for lighter designs, or is demand unaffected?
Consumers are adapting to higher prices by opting for lighter and versatile designs over traditional heavy pieces.
However, investment-driven purchases continue, but with a focus on multi-functional jewellery that offers both aesthetic appeal and value retention.
There is a steady shift towards diamonds and alternative jewellery, especially among younger buyers.
Has the Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE benefited your business in any way? Are you seeing cost advantages or a boost in sales?
Yes, CEPA has provided several benefits.
Lower import duties on jewellery have led to cost efficiency and better pricing for consumers, and easier trade facilitation between India and the UAE, has reduced bureaucratic hurdles.
Moreover, with cost savings, we can offer attractive pricing and promotions, driving sales growth. We leverage CEPA advantages by optimising supply chain costs and passing the benefits on to our customers.
How do you position Meralda in the competitive jewellery retail market in the UAE? Are you focusing on bridal, everyday luxury, or high-end bespoke pieces?
Meralda positions itself in the mass-premium segment, offering a blend of traditional elegance and modern luxury.
Our merchandise consists of traditional bridal jewellery, lightweight diamond and gold jewellery for modern lifestyles, and high-end bespoke designs for the premium clientele.
By balancing aspirational affordability with luxury aesthetics, we cater to a diverse customer base.
You’re planning to open 30 stores globally. Could you share more about your timeline, target locations, and long-term vision for global expansion?
In the short-term (1–2 years) we will expand our footprint further in Dubai, Abu Dhabi, and Sharjah, focusing on high-footfall areas.
For our mid-term (3–5 years) timeline, we hope to strengthen our GCC presence, including Qatar and Saudi, and introduce exclusive flagship stores.
In our long-term plan (beyond 5 years), we will look to expand to the USA, the UK, and the Far Eastern markets.