Pure Gold Jewellers close 2004 on a positive glow

Disclosing these positive figures, Chairman of Pure Gold, Mr. Firoz Merchant said: "The fourth quarter of 2004 contributed the most to our commercial achievements. It observed a large flow of tourists, and complemented with the home-bound traffic of expatriates, the shopping spree witnessed an upsurge in the Emirates. Pure Gold, with its timely expansion and arrival of the new range lured shoppers and recorded an unprecedented increase in sales."

"In addition, our professional approach of modern business ethics, even in a traditional business like gold and diamond jewellery, has always been a contributing factor in achieving such growth," emphasized Mr. Merchant. In fact, the Pure Gold revenue has been growing at an unprecedented pace despite the gold market facing the upheaval with gold prices touching all time highs since 1988.

"For retail business, the complexities and yardstick to success are very different, as compared to the international bullion business," explained Mr. Merchant. "Our increase in number of outlets at very appropriate locations, complemented with immense variety in designs and effective marketing campaign, have all contributed to the business growth," he added.

Mr. Merchant attributes the Pure Gold Jewellers' commercial success also to some external factor like immense growth in tourist sector, positive and favorable business conditions in the UAE and growing disposable income of consumers. "Even though we were expecting some improvement in sales but not as much, however, our results have now boosted our confidence and given us a much stronger positive outlook," shared Mr. Merchant.

Diversifying as early as 1998, the Pure Gold Jewellers into retail started their operation with three outlets and are working towards a goal of 35 stores by the end of 2006 - all located in very prominent locations. This year, Pure Gold intends to open three more stores in the first quarter. Their expansion plans also include opening outlets in other parts of the Arabian Gulf, and in India.

The professional approach of Pure Gold was epitomed by their efforts to seek ISO certification, which was awarded to them last year. Pure Gold Jewellers was the first retail jewellery house to be awarded this.

"ISO stamp is a brand of quality and reliability, and our customers definitely feel comfortable and confident of doing their purchases with us, on seeing the ISO certification stamp," conveys Mr. Karim F. Merchant, Managing Director of Pure Gold Jewellers.

Their innovative marketing strategy with special effective communication plans have contributed the emergence of Pure Gold as an innovative and creative brand with abundance of designs and reliability in quality.

Collective efforts of the World Gold Council and Dubai's gold traders have also contributed to increase in gold sales, according to Mr. Karim. He says, "There's a very effective strategy designed by the World Gold Council to promote gold and WGC plays a major role in gold's current attractive stature in the market."

"Investment in gold is always a good decision and what better than past trends to prove that. Gold has appreciated more than 20 to 25% in the last 2 years," conveys Mr. Karim, emphasizing his point on investing in gold.