Monday, 13th March 2006 (3916 views)

Dubai-based jeweller Pure Gold is investing Dh200 million ($55 million) into its business to fund a significant expansion in the United Arab Emirates and the wider Gulf region.

The retailer, which is a major force in the white-gold market, intends to double its outlet count to 60 by the end of 2006, Gulf News reports.

On the home front, Pure Gold will open new showrooms in Lamcy Plaza, Reef Mall, Marina Mall and Uptown Mirdiff.

Having just cut the ribbon on a new branch in Muscat, Pure Gold will also continue its regional push by opening stores in Kuwait, Qatar and Bahrain.

According to chairman Firoz Merchant, Pure Gold will accompany its expansion with a commensurate marketing push.

"In order to support our regional expansion strategies, we have tripled our marketing budget this year. Also in the pipeline is our plan to launch five in-house and international brands," he said.

The retailer also hopes to make a splash in the diamond market and will open a diamond manufacturing plant in India next month.

 

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