Pure Gold posts strong sales during DSS touching 68 per cent

For gold jewellery, the company realized increased net sales of 78 per cent and a whopping 48 per cent for diamond jewellery over the same period in 2003. A key player in the UAE's gold and diamond jewellery market, Pure Gold attributes high sales to the demand for quality diamond jewellery and the strategic promotional program launched by the government of Dubai.

Welcoming visitors to the City of Gold this summer, Pure Gold participated in the government's effort to promote the emirate through the DSS. "Our varied collections appealing to all tastes and budgets, combined with the increased amount of visitors to Dubai, has positively influenced sales, effectively strengthening the gold and diamond jewellery industry in the UAE," said Firoz Merchant, Chairman of Pure Gold.

Mr. Merchant added that summer 2004 is especially unique as resident expatriates chose to stay in Dubai and even invited their relatives to come to the emirate. The heavy influx of tourists resulted in increase in spending boosting sales particularly in jewellery. "We must also commend the persuasive powers of DSS as it successfully invited neighbouring tourists from the Gulf region to spend summer here," Mr. Merchant said.

The company is poised to capture increased market share with five new stores opening in the second half of 2004 namely: Hamdan Street-Abu Dhabi; Mega Mall-Sharjah; Abu Dhabi Mall; Gold Centre at Gold Souk, Deira and, Souk Madinat Jumeirah which recently commenced operations. In 2005, Pure Gold plans to open shops including outlets in the Mall of the Emirates, The Gardens Mall and Marina Mall extension plus many more.

Being the only business in the Middle East jewellery retail industry to have complied to and achieved an ISO 9001:2000 accreditation for international standards in quality management, Pure Gold's reputation for excellence adds value to the customer experience in every showroom.

"We are pleased and especially encouraged by our summer sales growth, which is strengthening as the quarter progresses," said Merchant. "We believe these results again confirm the lasting appeal of Pure Gold's products."