PRZOOM - /newswire/ -
Dubai, UAE, United Arab Emirates, 2005/12/24 - Pure Gold, a key player in the Dubai jeweler market, has increased its diamond sales in 2005 by 225%, compared to results in the first half sales of 2004, prompting the launch of Pure Gold’s new low-priced 18 Karat Diamond collection, Pure Sparkle.
In conjunction with the growth of the gold and diamond market in the UAE region, Pure Gold, a key player in the Dubai jeweler market, has increased its diamond sales in 2005 by 225%, compared to results in the first half sales of 2004, prompting the launch of Pure Gold’s new low-priced 18 Karat Diamond collection, Pure Sparkle.
According to a recent survey of consumers conducted by Pure Gold, value-based brands appeal to a burgeoning yet untapped market segment comprising of price conscious yet acutely fashionable professional women.
“With the Pure Sparkle collection we want to move away from the ‘inaccessible luxury’ stigma often tied to diamonds. We want to make diamond jewellery available to women of all walks of life. Glamorous diamonds have become more fashionable among younger women, who until recently preferred discreet silver and white gold,” said Pure Gold Chairman, Mr. Firoz Merchant.
Featured exclusively at Pure Gold’s 25 plus stores around the UAE, the Pure Sparkle 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 570 an ounce, the light weight jewellery has immense appeal in Dubai, which has a large share of young professional women with limited disposable income.
In an effort to increase the popularity of diamond jewellery, the Pure Sparkle range is offering full value exchange facility. The efforts of Pure Gold to popularise the trendy jewellery with diamonds gets a boost with a unique exchange offer, which means that one can wear their favorite diamond ring or pendant for as long as they like and then after a while exchange it for a new piece.
Commenting on Pure Gold's strategy for continued success Mr. Merchant said, “2005 has been a highly successful year for Pure Gold. This year's sales increase is reflective of the concentration on the diamond and gold industry in Dubai, the increase in tourism expected by the UAE government and the change in perception when buying diamonds and gold.”
“We are persistently achieving and exceeding our goals. The gold and diamond market is extremely competitive within the region and we are committed to being one step ahead of our competitors to set the standard of quality, creative designs, excellent customer service and offering highly competitive prices and exchangeability options,” further added Mr. Merchant.
Pure Gold is the fastest growing jewellery house in the UAE with multiple outlets since their start in 1989, from modest bullion traders to expansion into both local and international jewellery retailing is the result of the far-sighted policy of the management team and the continual support of the UAE government. With plans to open one outlet every month, Pure Gold intends to have additional 35 stores all over the UAE by 2006.