Malabar Gold & Diamonds rolls out Rs240 crore expansion
Dubai - Malabar Gold & Diamonds, one of the world's largest jewellery retailers, recently announced the launch of nine stores across India and globally, as part of their ambitious global growth plan revealed in 2018.
The initiative aims to see the company triple its retail network from 250 showrooms to 750 outlets. The group currently operates retail outlets spread across 10 countries in India, the Middle East, Southeast Asia and America.
Its expansion plan will see the company expand its footprint across all Tier 1 and Tier II cities in North and Central India in order to cater to the growing jewellery market. Internationally, the expansion will further strengthen its position in markets like Singapore, Malaysia, Oman and the UAE.
"The opening of these nine showrooms with a world-class shopping experience in the post-Covid scenario demonstrates the faith reposed by the customers in the brand. It is only due to their encouragement and patronage that the brand continues to march forward and add to its retail footprints in various corners of the country and the world.
Our retail expansion is a part of our plan to become the number one gold retail brand in the world in terms of both showroom count and sales," said MP Ahammed, chairman of Malabar Group.
Shamlal Ahamed, managing director for international operations at Malabar Group, added: "We are positive about the market sentiment and our investment plan reflects our commitment to our customers.
Combined with the special festive designs, best prices and assured gifts, this will help us provide great value to customers in the coming festive season. I am confident that our customers will continue to respond positively to our offerings of wide retail presence, quality products, unmatched design and transparent pricing."
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