Thursday, 1st April 2004 (4225 views)

A nine-storey mall exclusively devoted to jewellery shopping is set to open its doors to customers in Calcutta by the autumn.

The development, christened Fort Knox after the US federal gold reserve building, is modelled on the luxury Gold Souk mall in Dubai and will showcase 37 mainly gold, but also silver and diamond, retail outlets from October this year.

The project is designed to exploit the growing appetite for variety and range of jewellery items among Indian consumers. The location in Calcutta is India's third largest retail centre with a target market estimated at up to 120 million consumers. It has already convinced brands including UK-based jeweller Frazer & Haws.

"Though jewellery is high value purchase, we don't pick and choose like the way we do for a television. Stand-alone shops limit our choice," developer Ashok Bengani told The Times of India.

"The mall will offer customers designs that range from the contemporary to antique," he added.

 

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