Pure Gold Jewellers reports promising first quarter results

The double-digit jump in sales for the company was attributed mainly to the increased performance of its retail sales in the diamond segment.

The makers of both gold and diamond jewellery, said that sales for diamond look very promising this year and is expected to continue on that trend, setting another double digit growth rate for 2006.

"While gold jewellery retail continues to be our major seller, diamond's retail appeal has not come as a surprise. In comparison to gold retail, diamond growth rate has been definitely moving faster and the outlook for this year is definitely stronger and more positive than the previous year,"

declares Firoz Merchant, Chairman of Pure Gold Jewellers.

Pure Gold attributes the company's sales growth to its competitive pricing scheme, better customer service, more networks of stores, impactful marketing communication, strategic location, and increase in tourism influx and to UAE's favourable business environment.

Pure Sparkle, one of Pure Gold's diamond brand, offers delicately crafted, rings, ear rings and pendants of 18 karat diamond jewellery in yellow and white gold. With rising gold prices reaching USD 600 an ounce, the light weight jewellery has immense appeal in Dubai, which has a large share of young professional women with limited disposable income.

From humble beginnings as bullion traders in 1989, Pure Gold has become a major player in the region's local and international jewellery retailing. Pure Gold is now one of the fastest growing jewellery houses in the UAE and is set to cater to their customers in neighboring GCC countries by opening 3 new stores in Kuwait, 2 in Doha and 3 in Muscat, Oman.