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Malabar Gold & Diamonds unveils new phase of global expansion plan

Jeweller set to launch 20 showrooms in 1 month

Published: Tue 3 Sep 2024, 12:39 AM

Updated: Tue 3 Sep 2024, 6:45 PM

By
Issac John

Malabar Gold & Diamonds, the 6th largest jewellery retailer globally with over 355 showrooms across 13 countries, has unveiled the next phase of their global expansion plan, with the jewellery giant set to launch 20 new showrooms in the month of October. The showroom launches are being planned across various locations in India, the GCC & the USA. The ambitious expansion plan will mark a significant chapter in the brand’s growth journey, further cementing its reputation as one of the world’s largest and most trusted jewellery retail chains.

The expansion plan in India involves the launch of 3 showrooms in Uttar Pradesh, 2 showrooms each in Delhi, Maharashtra, Karnataka, Rajasthan and 1 showroom each in Odisha, Telangana, West Bengal & Punjab. Internationally, Malabar Gold & Diamonds will strengthen its already robust presence in the UAE, Qatar and Saudi Arabia with new showrooms opening in Muweilah, Sharjah; Muaither & Nakheel Mall respectively. The brand’s growing presence in North America will also be bolstered with the launch of 2 new showrooms, in Artesia, Los Angeles and Atlanta, Georgia.

Malabar Group Chairman, M.P Ahammed said: “While the opening of these 20 showrooms aligns with our long-term vision of becoming the world’s No.1 jewellery retailer, the aggressive expansion we have charted is about growing sustainably and responsibly, ensuring that our expansion benefits not just our business, but also the society at large. With 5% of our profits set aside towards ESG initiatives in every region we operate in, we are also committed to bringing about a positive change in the community”.

Every new showroom will showcase a wide range of jewellery collections, from traditional to contemporary designs, designed to provide an immersive shopping experience that resonates with the brand’s ethos of excellence. With a focus on customer comfort and satisfaction, the showrooms will host a wide range of amenities from customized jewellery designing facility to a luxurious lounge area.

"Our decision to open 20 new showrooms in such a short span reflects our robust growth strategy and confidence in the markets we serve. With a focus on both geographical diversification and strengthening our presence in existing markets, we are ahead of the curve in terms of market penetration. We are committed to offering not just jewellery, but an experience that delights and inspires our customers, ensuring they find pieces that resonate with their personal style and cultural heritage.”, said Shamlal Ahamed, MD-International Operations, Malabar Gold & Diamonds.

Asher O, Managing Director of India Operations said: "Considering the enormous potential it holds, the crux of our expansion is focused on the Indian Market. With import duty on gold being slashed by the government, we firmly believe that India will witness a meteoric rise in demand for gold jewellery and with the charted expansion, we are well poised to cater to this need. The wide array of designs we have introduced to our portfolio, with each piece meticulously crafted to tell a story of tradition, innovation, and artistry will allow us to connect with a broader audience, further cementing our presence in the market”.

“The opening of 20 showrooms in October, while being a momentous achievement, is a part of the wider expansion we have planned for the upcoming months. In addition to strengthening our presence in existing markets, we are also gearing up to expand into countries such as South Africa, Egypt, Turkey, Bangladesh, France & New Zealand. We are also working towards broadening the scope of our product line through Arab Value Chain focused on 21K Jewellery and Western Value Chain focused on 18K Jewellery. Through the integration of omni-channel capabilities, the technology-driven nature of our growth in an otherwise traditional trade, marks our ability to adapt to the changing times.” commented Mr. Abdul Salam K.P, Vice-Chairman of Malabar Group.

ESG (Environmental, Social & Governance) initiative has been the primary commitment of Malabar Group since its inception in 1993, with 5% of net profits set aside towards such initiatives in each country of operations. The key focus is in the areas of Hunger Free World, Health, Housing, Education, Women Empowerment & Environment. The ESG goals of the organization are periodically strengthened to remain a socially conscious and responsible organization.