Malabar Gold to go online
Indian jeweller Malabar Gold & Diamonds is turning to the web to boost sales.
Malabar Gold says it plans to launch an e-commerce site along with expanding its network of bricks-and-mortar stores.
It is targeting 220 stores and an annual turnover of about $6 billion by 2015.
The jewellery retailer also plans expanding to markets including Singapore, Indonesia, Sri Lanka, Malaysia and Thailand.
“With our ambitious expansion plan, we are fast changing the global ranking of the world’s top jewellery retailers in which we are constantly outranking global rivals – to rise to the top position in the near future,” said Malabar Gold & Diamonds MD of international operations Shamlal Ahamed.
Part of its e-commerce expansion is to offer customised lifestyle gold ornaments home delivered to those requiring it especially for weddings or for gifting, it says.