Shilpa Shetty joins 'gold rush'; launches jewellery firm Satyug Gold

Apr 02 2014, 22:31 IST
Comments 0
Indian Businessman, Raj Kundra along with wife and Bollywood actress Shilpa Shetty offer a cheque of 25 crores to Mohit Kamboj, President of Indian Bullion and Jewellers Association during the launch of their company, Satyug Gold in Mumbai on Wednesday. (PTI) Indian Businessman, Raj Kundra along with wife and Bollywood actress Shilpa Shetty offer a cheque of 25 crores to Mohit Kamboj, President of Indian Bullion and Jewellers Association during the launch of their company, Satyug Gold in Mumbai on Wednesday. (PTI)
SummaryBollywood actor Shilpa Shetty's company will have outlets across seven cities.

Bollywood actor Shilpa Shetty today launched her own gold bullion and jewellery company, which will have outlets in seven cities.

Satyug Gold has entered into long-term contracts with gold mines all over the world and also owns two refineries in India, Shilpa Shetty, who is Chairperson of the company, said.

Satyug Gold is opening seven stores in cities like Mumbai, Delhi, Jaipur, Ahmedabad, Pune, Chandigarh and Ludhiana. These outlets will feature regular collections of jewellery designed by the actress.

"We have entered into long-term contracts with gold mines from all over the world and own two licensed refineries in India. Some of the margins we make in our gold business will be passed on to our customers in the form of discounts.

MH370

Businessman Raj Kundra along with wife and Bollywood actress Shilpa Shetty during the launch of their company, Satyug Gold in Mumbai(PTI) "This is possible because we are a complete mine-to- refinery-to-customer set up," Shetty told reporters here.

Satyug owns 42 per cent stake in AuPtAg Refinery and 50 per cent in Royal Refinery, both located in Navi Mumbai. They have refining capacity of 18 tonne and 150 tonne per annum, respectively, she said.

MH370

Bollywood actress Shilpa Shetty during the launch of her company, Satyug Gold in Mumbai.(PTI)

On the occasion, Shetty launched 12 creatively designed evil eye charms made in 22 karat gold.

The company has also launched its own minted 24 karat (999) purity gold coins in different sizes. The coins will be apt for gifting, Shetty said.

Satyug is also launching, for a limited period and in association with the Indian Bullion & Jewellers Association (IBJA), a scheme that will offer patrons chance to purchase pure 24 karat gold at up to 37 per cent off the prevailing market rates linked to various delivery tenures.

Satyug has inked a five-year deal with the association worth Rs 25 crore as royalty payment, said IBJA President Mohit Kamboj.

Size of India's gems and jewellery industry is likely to double to Rs 5,00,000 crore by 2018 and investment demand in the form of coins and bars has a capacity to reach Rs 1,80,000 crore by 2018 from Rs 85,000 crore in FY 12.

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...