Satyug Gold to have showrooms in 7 cities in India.
By The American Bazaar Staff
MUMBAI: Bollywood actress Shilpa Shetty has launched her own gold and jewelry company, entitled Satyug Gold, which will have branches in seven major cities across India.
The cities of Mumbai, Delhi, Jaipur, Ahmedabad, Pune, Chandigarh and Ludhiana will each have their own Satyug Gold showrooms, and the company has entered into long-term contracts with gold mines all over the world. The company has also licensed two refineries in India itself: the AuPtAg Refinery and in Royal Refinery, both located in Navi Mumbai. Satyug Gold owns a 42% stake in the former and 50% of the latter.
Additionally, Satyug has agreed to a five-year deal, worth Rs. 25 crore in royalty payments, with the Indian Bullion & Jewellers Association (IBJA), which will allow it to purchase pure, 24-karat gold bullion for 37% less than the market price, thus passing on those savings to its customers. In today’s market, with gold prices continuously on the rise, the agreements to have Satyug Gold essentially be a direct supplier are a bigger boon than ever.
The announcement that Shetty was opening her gold business was made at a press conference here, today. At the press event, Shetty unveiled 12 “evil eye” charms that she designed, which will be available at all Satyug Gold outlets when they open, along with all other original and exclusive designs by Shetty.
Shetty, currently married to industrialist Raj Kundra, was a huge name in the Hindi movie industry throughout the 1990s and early 2000s, appearing in hits like Baazigar (1993) and Dhadkan (1998), but has recently been absent from the Bollywood scene, aside from appearing as a judge or a guest on a show here and there.
In 2007, she made headlines by joining the UK version of the reality show “Big Brother,” where racist remarks made against her led to huge public support and her eventually victory on the program. The same year, she was at the center of another controversy for a kiss given to her at an AIDS awareness event, by Hollywood actor Richard Gere.
Shetty married Kundra in 2009, and they together partly own the IPL cricket franchise team Rajasthan Royals, for which they paid $15.4 million for a 11.7% stake. In addition to her AIDS activism, she is an active support of PETA (People for the Ethical Treatment of Animals). She is set to make a special appearance as an item girl in the Bollywood production, Dishkiyaoon, her first film appearance in four years and which she has co-produced.
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