Pure Gold Jewellers achieves record growth from India operations

Press release

Published September 12th, 2011 - 10:33 GMT

Firoz Merchant, Chairman of Pure Gold Jewellers

UAE based award winning jewellery retailer Pure Gold Jewellers has experienced a strong 50% growth in sales from its India operations in the last six months. By the end of 2012, the company expects 25% of its international revenues to come from India.

Speaking about the company’s business in India, Firoz Merchant, Chairman of Pure Gold Jewellers, said: “We have currently over 20 stores in the country and considering our successful track record, we will have more than 30 stores operational by the end of this year. There are a lot of exciting new developments in our India operations. In the last three months alone we have opened stores in Gujarat and New Delhi which are key markets for us. Soon we will have a presence in over 10 cities in India which will help us to reach out to more customers and strengthen our operations.”

He added: “We are a perfect example of a company started in the UAE now going global. Being in the UAE has a distinct advantage; as a tourist destination the country attracts visitors from the world over and people already know your brand name before you enter a new market like India.”

The company entered the India market in 2010 with plans to invest USD 200 million in the country to open 200 retail outlets by 2015. According to Karim Merchant, CEO and MD of Pure Gold Jewellers, the company is well on target and he attributes the brand’s record growth in India to its policy of guaranteed low prices on all products, international certification for diamond jewellery products, buy back guarantee, free life time repair and the strong brand equity the company has enjoyed for over two decades.

“We have taken care to introduce unique designs that appeal to the Indian customers. In addition we have also launched our international collections which have been well received. We see a huge growth potential for our operations in India, especially, with the increasing buying power of the country’s middle class and India’s continued growth as one of the fastest growing economic powers,” concluded Karim Merchant.

Background Information

Pure Gold Jewellers

Started in 1989, when Firoz Merchant breathed life into an idea that took shape as the first Pure Gold Jewellers store, it is a realisation of a dream and the fulfilment of a vision. This has led to the creation of a brand that constantly delights customers with excellence and innovation.