The company plans to open 22 new showrooms in GCC among other territories in January, pitching itself firmly on the path towards emerging as the largest retail jewellery chain in the world.
Out of the 22 new showrooms, 12 will be in GCC and the Far East and 10 in India where the brand already has a presence. The addition of these stores will also grow the brand’s retail footprints into Tier 2 and 3 towns of India where the brand is rapidly gaining acceptance.
The group will invest a total of $107.5M 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 750 stores and becoming the number one gold retailer in the world. This expansion program will create approximately 5,000 job opportunities in the retail, manufacturing, technical and management areas related to jewellery trade, said Malabar Group chairman MP Ahammed.
“We are confident that our customers will enjoy the world-class jewellery shopping experience at all our new showrooms and also appreciate our values based on transparency, trust, quality and service. 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.
