Pure Gold Jewellers to set up 200 stores in India in five yrs

Dubai-based Pure Gold Jewellers plans to invest nearly Rs 1,000 crore for setting up 200 stores in India in the next five years.

Dubai-based Pure Gold Jewellers plans to invest nearly Rs 1,000 crore for setting up 200 stores in India in the next five years.

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With this, the company would be foraying into the Indian market, a press release issued in Mumbai said.

"Jewellery has always been a significant part of Indian history and culture and we are extremely excited in introducing our cutting-edge designs and innovative pieces of jewellery in this market," the company's CEO-Western Zone, India, Amar Nanavati, said.

Currently, the company has eight stores in Mumbai and Pune and nearly 75 outlets in the Middle-East.

"India is poised to be one of the largest markets offering immense potential for future growth of the company. The initial strategy will be to concentrate on strengthening our base in Maharashtra," Nanavati said.

He added, "thereafter our target will be the north and south and eventually all over India by 2011."