SINGAPORE - Degussa Goldhandel, one of the world's largest bullion dealers, has opened its first Asian branch in Singapore.
The 3,000 sq ft boutique, which sits in Orchard Road, offers a range of physical bullion products. They include silver and platinum coins of various weights, investment bars, wearables such as pure gold cufflinks, gold watches, as well as writing instruments and money clips.
Customers have the option to store their purchases in the boutique's 1,500 private safe deposit boxes or in the company's high-security bonded warehouse.
Degussa's latest expansion comes hot on the heels on its recent openings in London and Madrid.
Degussa chief executive Wolfgang Wrzesniok-Rossbach noted in a statement that the launch of its Singapore office was a "significant step" for the company.
"Asia is a critical market for us and Singapore is a key stepping stone for our strategic expansion plans in the region," he said.
Added Mr Raphael Scherer, the firm's chief international officer: "As part of our strategy to be a truly international company, it is imperative that we have presence in Asia and explore the dynamic and diverse economies in the region.
"Singapore, as the gateway to Asia, is the perfect starting point for us."