16 March 2005
DUBAI -- Pure Gold jewellers plan expansion of Dh 150 million to open 35 stores by 2006 in the AGCC countries, said Karim Merchant, managing director, Pure Gold Jewellers.
Pure Gold opened their new branch in Dubai yesterday at the Gold Souk. The jewellery showroom was inaugurated by Shaikh Mohammed bin Khalifa Al Maktoum, Chairman, Lands Department, Dubai, Yash K. Sinha, Council General of India and others.
Merchant said: " The group will expand its operations beginning with Kuwait and Bahrain. The Gold Souk branch in Dubai is expected to increase total sales by 25 to 30 per cent. The store carries three million grams of gold and houses a wide range of diamonds, semi precious stone, antique jewellery and largest gold necklace in the region. We plan to expand by opening one store per month and by end of the year we will have 22 stores within the Emirates. We have invested Dh 25 million into this particular store and with branches spread across Dubai, Sharjah, Abu Dhabi and Al Ain Pure Gold has been elevated into one of the top three players in jewellery market share. Their extensive expansion plan includes stores in The Gardens Discovery Mall, The Mall of Emirates and Marina Mall in Abu Dhabi." Firoz Merchant, Chairman, Pure Gold Jewellers, said: " The 1500 square feet Gold Souk branch will house 3 million grams of gold ranging from 24, 22, 21 and 18 karat plus exquisite diamonds, semi precious stones and antique jewellery. The stunning Pure Gold, Pure Diamond and Pure Sparkle collections will be carried at this location. Pure Gold is offering a wide range of variety of jewellery under one roof making availability, quality and convenience accessible to every customer."
BY SANDHYA D'MELLO
© Khaleej Times 2005
