UAE- Pure Gold plans 150m expansion

Date

11/30/2015 11:50:37 PM

(MENAFN- Khaleej Times)

In keeping with the increased demand for 22 karat gold jewellery Pure Gold Jewellers will invest $150 million in 30 new gold jewellery outlets to be opened in GCC countries offering the company's Genuine Price Promise or GPP of lowest gold prices in the market. Customers will experience transparency on gold board rate in GCC in reflection of international gold rates in addition to guaranteed lowest making charges.

The expansion plan will be completed over a period of three years. This will see the opening of 17 new 22kt gold jewellery stores in the UAE three each in Qatar and Saudi Arabia; five in Oman and two in Kuwait.

Firoz Merchant Founder and Chairman of Pure Gold Group said: "We are expanding our presence to meet the demands of our loyal customers who will then be able to shop at more locations offering them a vast selection of 22 karat jewellery. In 2016 I expect the gold prices to be within $800-1000 per ounce range which will spur further demand and with our new stores we will be able to cater to more customers. The gold board rates and making charges will be the lowest in the market as per our Genuine Price Promise to give our customers transparency savings and latest designs."

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