Indian jeweller Malabar Gold and Diamonds plans to add 39 new stores globally over the next six months.

Malabar currently has 102 stores, with the latest opening in Singapore.

The 20-year old company plans to become the leading gold and diamond player globally. It expects turnover to hit $3.5 billion this year.

“Our new phase of expansion will see Malabar Gold & Diamonds enter new markets, new territories such as Singapore, Malaysia, Thailand and Hong Kong, which will not only boost our revenues but also help us become a global conglomerate,” said chairman MP Ahammed.

MD Shamlal Ahamed adds: “Growth is in our DNA and we are hungry to expand to every nook and corner of the world where there is a reasonable demand for jewellery.”