SINGAPORE (Oct 28): Degussa, one of Europe's largest gold and precious metals retailers, is opening a branch in Singapore, its first outside Europe.
With the opening of the 3,000-square-foot branch near Dhoby Ghaut MRT Station on Wednesday evening, Degussa plans to capitalise on the growing retail market for gold and precious metals in Singapore and Asia.
The Singapore branch will offer a range of physical bullion products, including gold, silver and platinum coins of various weights, as well as investment bars.
It will also sell gift collection items, including pure gold cufflinks and gold watches, in a specially designed showroom. The branch also offers safe deposit box rental services for customers who wish to safekeep their valuables with Degussa.
Degussa aims to start its online store for the Singapore market in two weeks' time. It also plans to allow customers to cash in their scrap gold in the near future.