Monday, 11th February 2008 (2474 views)

Annual profits for United Arab Emirates (UAE) jewellery house Pure Gold increased by 58 per cent in 2007, the company has announced.

The firm, which operates 60 stores in UAE alongside outlets in Kuwait, Oman, Bahrain and India, said the biggest rise in demand from customers was for gold jewellery featuring diamonds.

It also said that sales were "dramatically" boosted by holiday spending on jewellery in the fourth quarter of the year, with Eid, Diwali and Christmas all falling in the last three months of 2007.

Pure Gold's founder and chairman, Firoz Merchant, said: "Our customers are not showing any signs of slowing down their purchases, especially during the festive seasons when jewellery is bought as gifts for loved ones."

In the wake of the profits boost, Pure Gold confirmed it is on course to meet its target of having 100 stores by 2010. It is planning to open 15 boutiques this year, with plans to expand into the Far East market.

Pure Gold Jewellers was founded in 1989 in Dubai. It now has showrooms in cities including Abu Dhabi, Qurum and Mumbai.

 

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