By Andy Sambidge
Pure Gold Jewellers says it is to target Turkey, Jordan, Morocco and Lebanon by year-end
Dubai-based jewellery retailer Pure Gold Jewellers said on Monday it is set to enter new markets this year on the back of double digit growth in 2011.
The company has revealed its plans to establish 25 outlets in Turkey, Jordan, Morocco and Lebanon by the end of 2012.
Firoz Merchant, chairman of Pure Gold Jewellers, said in a statement: "We are currently in a strong position to expand. We have replicated our success in the UAE market in other GCC countries and in India; and now is the time to expand further to widen our geographical reach.
"We have had strong demand for our designs and products from customers in Turkey, Jordan, Morocco and Lebanon and we have plans in place to open a total of 25 outlets in these markets by the end of this year."
The first store in Turkey will open by June, Jordan and Morocco by the end of this year, and Lebanon in September, the statement said.
Of all the four new markets, Pure Gold Jewellers expects Turkey to be the strongest due to the high population and the mature nature of the country's gold and jewellery market, Merchant added.
Pure Gold Jewellers has more than 100 stores across Middle East and India. The company also plans to open a total of 200 stores in India.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.