Pure Gold plans $135 million expansion by 2020

The Pure Gold Group has announced plans to invest about $135 million (AED 500 million) to expand its United Arab Emirates (UAE) operations in the lead up to Dubai Expo 2020.

The group expects to invest about $116 million (AED 425 million) in its Pure Gold Jewellers retail division and $20 million (AED 75 million) will be invested in La Moda Exclusives, its luxury sunglasses retail chain. Pure Gold Jewellers will open an additional 65 stores and the La Moda chain plans 50 new stores in the UAE by 2020 under the direction of its managing director, Amran Iqbal.

The company also plans to invest in other fashion retail businesses as well and is hoping to create employment opportunities for approximately 1800 to 2000 people.