Shilpa Shetty launches gold bullion and jewellery company

Bollywood actor Shilpa Shetty has entered the gem and jewellery industry, launching her very own gold bullion and jewellery company named Satyug Gold, reports say. This company has interests in retail and gold mines, forming an operational set-up that spans from mining to retail.

The retail outlets are to be spread across seven major gem and jewellery cities in the country including Mumbai, Delhi, Jaipur, Ahmedabad, Pune, Chandigarh and Ludhiana, offering jewellery designed by the actor, reports say. On the occasion of announcing her new venture, the actor launched 12 creatively designed evil eye charms made in 22 karat gold.

Also, the company has entered into long-term contracts with gold mines in the world and owns two refineries in India - it has a 42 per cent stake in AuPtAg Refinery and 50 per cent in Royal Refinery, in Navi Mumbai. With the company being in control of mine – retail operations, it would be able to pass on some of the margins from its gold business to it consumers through discounts, reports say.

Gold coins in various sizes minted from its own mines in 24 karat (999) purity were launched.

For its future retail endeavours, the company has signed a five-year contract worth Rs 25 crore as royalty with the Indian Bullion & Jewellers Association (IBJA), to launch a limited edition scheme for patrons to buy 24 karat gold at up to 37 per cent discount on prevailing market prices linked to various delivery tenures, reports say.