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Pure Gold Jewellers

From Wikipedia - Reading time: 5 min
Pure Gold Jewellers
Company typePrivate Limited Company
IndustryRetail
Founded(Dubai, UAE) 1989
FounderFiroz Merchant
HeadquartersDubai, UAE
Number of locations
100 in the Middle East, 200 in India (July 2011)
Key people
Firoz Merchant (Chairman and founder)
ProductsJewellery
OwnerPure Gold Group
Number of employees
1250 (2011)
Websitepugold.com

Pure Gold Jewellers is a jewellery retailer with 120 stores across the Middle East, in the UAE, Oman, Kuwait, Qatar, Jordan, KSA, Bahrain, and Sri Lanka. The company also has 200 stores in India.[1] The company's stores sell a variety of jewellery in diamonds, gold, platinum, Murano glass and precious stones. Founded[2] by Indian expatriate Firoz Merchant in 1989, the first Pure Gold Jewellers store was established in Dubai. Merchant has focused on gradual expansion of the brand's retail network.[3] The company entered the Indian market in 2010. It has plans to open 200 stores in the country in the next few years. Pure Gold are the sole concessionaire for retail of gold and diamond jewellery at Abu Dhabi Duty Free (terminals I, II, and III), Kuwait Duty Free and Muscat Duty Free.[4] Pure Gold Jewellers employs more than 1000 retail staff across the globe and also owns two jewellery manufacturing factories in India and in China, employing over 1,500 workers.[5]

Awards

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Pure Gold Jewellers is a recipient of the "Best Service Performance Brand" award in the large business category for five years: 2007–2008, 2008–2009, 2009–2010, 2011–2012, 2012–2013 and 2014–2015 under the Dubai Service Excellence Scheme (DSES) of the Dubai Department of Economic Development, making it the only company to have won it five times.[6] The company also topped in the ‘Best Customer Service’ category in the UAE jewellery sector in an annual study by international consultancy Ethos Consultancy for the year 2009 and 2010.[7]

About the founder

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Firoz Merchant was born in India. He moved to Dubai in 1989 and set up Pure Gold Jewellers. He has been involved in various philanthropic activities that have provided help and support for various communities.[8][9] He ranked No.26 on the Forbes Middle East List of Indian Owners 2014.[10] Arabian Business placed him at No.28 on its 2014 Richest Indians in the GCC list with an estimated net worth of US$435 million.[11] He is also a board member of Dubai Diamond Exchange (DDE) and a member of Dubai Gold & Jewellery Group.[12][13]

Corporate social responsibility

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Pure Gold Jewellers' corporate social responsibility has been focused on philanthropy, in conjunction with the UAE government. Organisations that have benefited from the company's CSR policies include the Red Crescent Society, the Sheikh Mohammed Bin Rashid Al Maktoum Charitable Trust, Bait-ul-Khair, the UAE's Education Ministry and the Health Ministry, among many others. Firoz Merchant has also contributed towards Corrective Institutions in order to release prisoners belonging to various nationalities jailed in the UAE.[14] As a kind gesture, Merchant has decided to spend 1 million US dollars (3.8 million dirhams) to help free prisoners who are behind bars in UAE due to non-payment of debts. He has already paid 150,000 dirhams for the release of 132 prisoners from Ajman Central jail. He will pay the remaining amount to secure the release of more prisoners.[15][16][17]

Notes

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  1. ^ "Pure Gold receives best brand honor for the 2nd year from Dubai government" Archived 2011-06-06 at the Wayback Machine, AME Info, May 28, 2009. Retrieved July 26, 2011.
  2. ^ Staff Report. "Sterling accolade for Pure Gold Jewellers' chairman". Khaleej Times. Retrieved 2023-11-28.
  3. ^ "Pure Gold Jewellers opens in Qatar ", TradeArabia, July 24, 2011. Retrieved July 26, 2011.
  4. ^ "Pure Gold to open 200 stores in India", Gulf News, June 15, 2010. Retrieved July 26, 2011.
  5. ^ "Indian Power List 2010: 39 Firoz G. Merchant ", Arabian Business. Retrieved July 26, 2011.
  6. ^ UAE Retail Benchmarking Study 2009
  7. ^ "Pure Gold receives best brand honor for the 2nd year from Dubai government" Archived 2011-06-06 at the Wayback Machine, AME Info, May 28, 2009. Retrieved July 26, 2011.
  8. ^ Bassma Al Jandaly, "Businessman’s help for family in need is pure gold", Gulf News, May 4, 2010. Retrieved July 24, 2011.
  9. ^ "Fine show of generosity", Gulf News, February 25, 2010. Retrieved July 24, 2011.
  10. ^ "Forbes Middle East List of Indian Business Owners 2014", Forbes Middle East, May 13. 2014. Retrieved May 22, 2014.
  11. ^ "50 Richest Indians in the GCC", Arabian Business, February 16, 2014. Retrieved May 22, 2015
  12. ^ "Indian Power List 2010: 39 Firoz G. Merchant", Arabian Business. Retrieved July 26, 2011.
  13. ^ Rory Jones,"Firoz Merchant: philanthropist with a heart of gold", The National. Retrieved March 30, 2012.
  14. ^ "Firoz Merchant helps 600 debt-laden UAE prisoners to go home". gulfnews.com. 2019-05-04. Retrieved 2023-11-28.
  15. ^ Businessman comes to aid prisoners in UAE
  16. ^ Caline Malek, "Zakat Fund Abu Dhabi money frees 10 debt prisoners", The National, January 11, 2011. Retrieved July 24, 2011.
  17. ^ Sharmila Dhal, "Indian businessman rescues prisoners in debt", Xpress, March 3, 2011. Retrieved July 24, 2011.
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