Gold retailer Degussa opens first Asian branch in S'pore

Singapore

ONE of the world's largest retailers of gold and precious metals opened its branch in Singapore - its first outside Europe - on Wednesday, with plans to make this outlet a key part of its global portfolio.

To do so, the German company, Degussa Goldhandel, will focus on the sale of jewellery and accessories, which has emerged as a rapidly-growing source of revenue for it here, considering it got a start on this aspect of the business only late last year.