Damas opens new store in India

One of the world's largest gold and diamond jewellery retailers has opened another store in India.

Damas, which opened its flagship store in the country in August 2005, now has 12 sites there with the addition of this latest store in Gold Souk.

The new store holds a vast array of desirable gold jewellery and sells many top-name brands.

"India is currently the world's largest consumer of yellow gold and the third largest in global diamond jewellery with a huge potential of a large population of young women aspiring for branded jewellery with trendy international designs," commented Anaggh Desai, chief executive officer at Damas India.

As well as jewellery, the new store will also sell Damas' line of watches which has developed a reputation for innovation over the years.

The success that Damas has tasted in India has led to the firm strongly believing that its future lies in the country and Mr Desai revealed that there are big plans ahead.

"Within a short period of its entry into India, Damas has already opened 12 showrooms and intends to open sixteen plus showrooms during the next financial year," he said.

Recent figures for gold jewellery sales in India were lower than expected but the country remains one of the largest gold consumers in the world and the market is expected to pick up in the coming months.