Pure Gold for Changi
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Pure Gold has become the first Middle Eastern jeweller to be granted a concession at Singapore’s Changi International Airport.
It will open a jewellery store in Terminal 1.
Pure Gold is a private family-owned business founded 20 years ago which now has 125 stores in the Middle East and Asia. It plans to open a further 200 by 2018, selling products sourced from its factories in China and India.
Chairman and founder Firoz Merchant said Changi airport is one of the busiest and best performing airports in Asia and being awarded a concession to open in the airport terminal is a big boost to Pure Gold’s travel retail business.
“This achievement is in line with our plans to become the largest travel retailer in jewellery globally. Passengers passing through Singapore Changi International Airport can now choose from our extensive range of gold, diamond, pearls, precious and semi-precious gemstone jewellery in the latest styles and best prices.”
Pure Gold already has a strong duty free business in the Middle East, operating at all terminals in Kuwait and Abu Dhabi international airports, and within the duty free retail facilities in Jordan, Kuwait, Muscat, Dubai and Sri Lanka.
CEO and MD Karim Merchant added in a statement: “Travel Retail is a key area of business for us and is becoming an increasingly important sector of our overall operations. Winning the concession at Changi Airport, which has an average number of 50 million passengers per year, will help us to further strengthen our business.”
Questions & Answers
Q.What kind of business is Pure Gold and how long has it been established?
What kind of business is Pure Gold and how long has it been established?
Pure Gold is a private, family-owned business. The company was founded 20 years ago and now operates 125 stores across the Middle East and Asia. Its products are sourced from factories in China and India.
Q.Where does Pure Gold currently operate duty-free businesses?
Where does Pure Gold currently operate duty-free businesses?
Pure Gold operates duty-free businesses in all terminals at Kuwait and Abu Dhabi international airports. They also have facilities in Jordan, Kuwait, Muscat, Dubai and Sri Lanka, indicating a strong existing travel retail presence.
Q.What is Pure Gold's future expansion plan?
What is Pure Gold's future expansion plan?
The company plans to open a further 200 stores by 2018. This expansion aligns with their goal to become the largest travel retailer in jewellery globally, using opportunities like the Changi concession.
Q.Why is the Changi Airport concession important to Pure Gold?
Why is the Changi Airport concession important to Pure Gold?
The concession in Changi Airport, which handles 50 million passengers annually, is seen as a significant boost to their travel retail business. It helps Pure Gold strengthen its overall operations and global presence in this key sector.
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