By Andy Sambidge
Jewellery retailer said to be keen on Sri Lanka, Maldives and Malaysia within next five years
Dubai-based jewellery retailer Pure Gold is planning to set up operations across three new Asian markets, it was reported on Saturday.
According to Sri Lanka's Ministry of Industry and Commerce, Pure Gold Jewellers, which operates over 100 stores across the Middle East, expects to expand into Sri Lanka, the Maldives and Malaysia with new stores within the next five years.
Rishad Bathiyutheen was quoted in Sri Lankan media as saying: "If we can successfully link Sri Lanka's jewellery supply chain to such multinationals as Pure Gold, we stand to enhance the much needed international recognition for our jewellery industry."
The Dubai jeweller has two factories in India and one in China employing over 1,500 personnel.
It also has branches in Oman, Kuwait, Bahrain, Qatar and India, and an upcoming branch in Saudi Arabia.
Earlier this year, Pure Gold said 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.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.