UAE jewellery retailer invests $10m in Gulf shops expansion

Pure Gold Jewellers announces the opening of seven new concept stores in the UAE, Kuwait and Oman
UAE jewellery retailer invests $10m in Gulf shops expansion
By Sam Bridge
Wed 11 Jul 2018 02:38 PM

Jewellery retailer, Pure Gold Jewellers, has announced the opening of seven new concept stores in the UAE, Kuwait and Oman, representing an investment of more than $10 million.

The new stores are located in the UAE at Al Ain Mall, World Trade Centre and Yas Mall in Abu Dhabi, Sahara Centre and Central Souk in Sharjah, City Centre Ajman, the new Al Kout Mall in Kuwait and City Centre Sur in Oman, adding to its 150 stores in the Middle East and Asia.

Karim Merchant, Group CEO and managing director of Pure Gold Group, said: “We continue to invest in the future of the region’s gold and jewellery business believing that an upward trend is inevitable in the economic cycle even though worldwide jewellery demand in the first three months of 2018 fell by one per cent from the first quarter of 2017 according to the World Gold Council.

“Both the UAE and Kuwait are global destinations for luxury retail and are incredibly important markets for us to attract gold and jewellery aficionados from around the globe. Oman too is seeing major investments in the luxury goods industry and has great potential for the jewellery business.

"We have invested over $10 million in these new stores to provide a more immersive retail experience to our customers and showcase our exquisitely crafted jewellery in an intimate setting.”

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