The Group will invest a total of Rs 800 crore for this new phase of expansion in January this year.
As part of its global expansion plans for 2022, Malabar Gold & Diamonds will open 22 new showrooms in India and abroad in January itself, pitching it firmly on the path towards emerging as the largest retail jewellery chain in the world. This is for first time in India that a jewellery retailer is opening so many showrooms together.
The Group will invest a total of Rs 800 crore for this new phase of expansion in January this year. With the aim of becoming the largest jewellery group in the world, Malabar Gold and Diamonds is targeting to open 750 stores and become the number one gold retailer in the world. This expansion programme will create approximately 5000 job opportunities in the retail, manufacturing, technical and management areas related to jewellery trade, said Malabar Group Chairman M P Ahammed.
The massive expansion drive in January will begin with the launch of the Artistry concept store in M G Road in Bengaluru on January 8 followed by showroom inaugurations in Solapur in Maharashtra on January 9, Siddipet in Telangana and Mydin Mall Seremban Malaysia on January 13, Tiruppur in Tamil Nadu on January 14, Penang in Malaysia on January 20, HSR Layout in Bengaluru on January 21, Varanasi in Uttar Pradesh, Landmark Shopping Mall at Gharafa in Qatar, Al-Meera Jeryan Jenaihat in Qatar, Al-Khoud Mall and Mall of Oman in Muscat on January 22, Raipur in Chattisgarh on January 27, Hadapsar, Pune in Maharashtra on January 28, City Center Al-Zahiya, Sharjah, Three Showrooms in Dubai Gold Souk, Crown Mall Jebel Ali in Dubai, Lulu Muweilah Hypermarket in Sharjah on January 29, Gurugram in Haryana and Preet Vihar in Delhi on January 30.
“In 28 years of our illustrious journey, Malabar Gold & Diamonds has grown from strength to strength. Our mission is to Make in India and Market to the world. Our commitment is to highlight further the brand value of Indian jewellery at the international level and create more job opportunities in the manufacturing sector domestically. This is our core policy,” added MP Ahammed, Chairman, Malabar Group.
“Our retail expansion is a part of our strategy to further strengthen our retail footprint in the territories where we have strong presence as well as foray into new markets with our differentiated services and product offerings. Having sensed the momentum in the recent festive sales, we are all geared up to set new standards of customer comfort and convenience in the new markets,” said O Asher, Managing Director, India Operations of Malabar Gold and Diamonds.
Well-known for its high standards of purity and quality, Malabar Gold and Diamonds offers a wide range of jewellery in gold, diamond and precious gemstones to cater to both traditional and contemporary sensibilities. The brand also offers a variety of specially curated jewellery which represents the diverse traditions and cultural
heritage of Indian design. The popular jewellery sub-brands from Malabar Gold and Diamonds such as Mine in unique designs, Ethnix handcrafted jewellery, Precia Gemstone jewellery, Divine jewellery with classic touch, Era uncut jewellery, Viras Royal polki, a beautiful symbol of India’s heritage and Royal pride, Starlet collection for children etc. offers a great variety of options to its customers.
“Malabar has played a vital role in making Indian jewellery more acceptable and trustworthy at the global level in the recent years. The current expansion plans will further consolidate its pole position both domestically and internationally,” said Shamlal Ahamed, Managing Director, International Operations of Malabar Gold & Diamonds.
Malabar Gold and Diamonds’ commitment to customers is highlighted not only in the brand’s distinctive offerings like One India One Gold Rate but throughout its retail operations with 10 Malabar Promises offered to customers. With the ‘One India One Gold Rate’ initiative, the brand has taken an unprecedented step by offering uniform gold rates across the country. The brand reinforces its commitment to ensuring the best value for money for customers with the Fair Price Promise, which focuses on assigning reasonable making charges to a vast array of jewellery.
Source: Business World