Pure Gold records 25pc sales growth
Dubai, December 19, 2011
Award winning jewellery retailer Pure Gold Jewellers has achieved 25 per cent growth in sales this year driven by the company’s expansion in the GCC and India, the company said.
In 2011, the company crossed the 100 stores mark with five new outlets opening in Qatar, a modern flagship store in Deira City Centre, an exclusive concession agreement with Kuwait International Airport’s Duty Free as the gold and diamond jewellery retail partner; and the opening of over 20 new outlets in India, it said.
The company also experienced a 25 per cent surge in its diamond jewellery sales.
Firoz Merchant, chairman of Pure Gold Jewellers, said: “We are on track to expand further in 2012. We plan to add another 30 stores to our existing portfolio and enter Turkey and Saudi Arabia for the first time. Next year, we will also expand our India operations.
“UAE is still one of our key markets with over 50 stores and we will focus on growing our customer base through new collections, unique designs and unbeatable prices on diamond jewellery,” Merchant said.
Pure Gold Jewellers has also been voted a Superbrand for 2012 by the UAE Superbrands Council.
“We are committed to raising the bar on customer service and will continue to offer the lowest guaranteed prices on diamond jewellery. We are able to do this as we own diamond factories enabling us to reduce the mark up charges. We also plan to open a factory in the UAE soon. In 2011, our peak sales were during DSF, Valentine’s, Ramadan, Eid and Diwali,’’ said Karim Merchant, CEO and MD of Pure Gold Jewellers.
The company also plays a leading role in corporate social responsibility in the UAE including assisting in the repatriation of insolvent prisoners by paying off their debts or contributing to the cost of their air fare to their native countries. So far, Pure Gold Jewellers has helped to release approximately 1,000 insolvent prisoners from jails throughout the UAE.
This year the company also signed an MoU with Al Faraj Fund, under the patronage of Ministry of Interior for UAE, to repatriate 50 insolvent prisoners every month for a period of one year, benefiting a total number of 600 prisoners.
In addition, Pure Gold Jewellers works closely with Sheikh Mohammed Bin Rashid Al Maktoum Humanitarian and Charitable Foundation, UAE Red Crescent Society, Dar Al Ber Society, Bait Al Khair Society, Zakat Fund Abu Dhabi, Ministry of Education, Ministry of Health, Jamiyat Asarika Al Khariya (Sharjah Charity International) and others to help the less fortunate, the company said. – TradeArabia News Service