Monday, 19th June 2006 (5085 views)

A shopping mall dedicated to gold is to open in Chennai, according to Indian newspaper The Hindu.

The city, formerly known as Madras, will host the ten-storey Prasanth Real Gold Tower.

Thought to be the world's first shopping centre dedicated entirely to gold, the building will house gold traders as well as featuring shops filled with gold jewellery.

Marketing manager of Real Value Promoters P Ashok told the paper: "We will have floors dedicated to branded jewellery and dress jewellery as well as your traditional gold.

"Our target will be the increasing number of young professionals in the city with money, and who like lifestyle products... not the stuff bought by their parents," he added.

Demand for high-value consumer goods in India is increasing as the country's wealth continues to grow.

GDP growth of 7.7 per cent last year saw the income of the increasing number of middle-class households increase, consequently boosting consumer spending and the sales of luxury goods.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.