Business | Retail

Pure Gold Jewellers plan $75 million expansion

Company to open 30 new stores in Jordan, Sri Lanka, India, Maldives and Saudi Arabia

  • Staff Report
  • Published: 12:30 January 25, 2013
  • Gulf News

Dubai: Pure Gold Jewellers has announced a $75 million (Dh275 million) expansion plan for 2013. The company, which currently owns more than 100 retail outlets in 10 countries in more than 40 cities, will open 30 new stores this year in Jordan, Sri Lanka, India, Maldives and Saudi Arabia.

According to Firoz Merchant, the company’s chairman: “2012 was a year of great achievements for us as we entered four new countries — Saudi Arabia, Sri Lanka, Jordan and Maldives, taking our total number of markets to 10. In 2013, we will continue to build on our success and expand further to become a household name internationally. Our $75 million expansion plan will focus on being present in high-population-density cities, with our modern outlets offering the latest style diamond, gold and other precious jewellery of exceptional value and quality. We will replicate our proven business model of offering the lowest guaranteed prices, lifetime repair, third-party certification and excellent exchange policies.

“In 2012 we experienced an 18 per cent growth over the previous year and we look forward to an equally successful 2013. We are a Dubai-based brand that has expanded beyond the shores, taking our model of customer service perfected here to other countries.”

Pure Gold Jewellers has also been selected as a superbrand for the fifth consecutive year by the UAE Superbrand Council. The organisation is acclaimed worldwide as being the independent authority and arbiter of branding excellence and is committed to paying tribute to exceptional brands and promoting the discipline of branding.

Karim Merchant, CEO & MD, said: “We are delighted to be recognised as a superbrand again. To be voted by the Superbrands Council is a powerful endorsement and evidence for our customers and stakeholders of the exceptional status our brand has achieved through our commitment to the highest standards of customer service and product quality.”

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