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Friday, 9th December 2005 (6579 views)

International jewellery house Damas is to set up 25 gold malls in India at a cost of over Rs 250 crore.

The malls will be in 12 Indian cities including Mumbai, New Delhi, Bangalore, Chennai and Calcutta, reports the Business Standard.

"As India is the growing market for gold and jewellery, no international chain can ignore the country," Tawhid Abdullah, managing director of Damas, told the Business Standard.

"We are working towards introducing new designs, which suit the Indian concept," he explained, announcing a new collection of signature-branded gold jewellery designed specifically for the Indian market.

Dubai-based Damas stocks international luxury brands and frequently takes part in promotional activities. It has recently collaborated with Russian diamond producer Kristall.

Preliminary work on the new gold malls is already underway and the project will be completed in 2006.

 

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