Doha: As part of its global expansion plans for 2022, Malabar Gold & Diamonds will open 22 new showrooms in GCC, Far East & India in January itself, pitching itself firmly on the path towards emerging as the largest retail jewellery chain in the world. This is for first time a jewellery retailer is opening so many showrooms in a single month.
Out of the 22 new showrooms, 12 will be in GCC and Far East and 10 in India where the brand already has 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 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 and Mall of Oman in Muscat on January 22, Raipur in Chattisgarh on January 27, Hadapsar, Pune in Maharashtra on January 28, City Centre Al-Zahia, 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.
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 to open 750 stores and become the number one gold retailer in the world.
This expansion program 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.
“In 28 years of our illustrious journey, Malabar Gold & Diamonds has grown from strength to strength. We will continue to strengthen our retail presence in the regions where we have established a robust presence and also enter new markets with our differentiated services and products. With the launch of 22 showrooms in January, we are all set to make an impactful beginning to the New Year. 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,” said MP Ahammed, Chairman, Malabar Group.
Abdul Salam KP, Vice Chairman of Malabar Group, said, “We are excited about our future growth. On the one hand, the plan involves a large-format Artistry store in Bengaluru while on the other hand, we continue to focus on optimal store sizes internationally and in smaller cities across India. We are confident that this two-pronged strategy will yield positive results.”
