Malabar Gold beefs up overseas presence

Indian jeweller Malabar Gold and Diamonds plans to further expand its presence overseas.

“We plan to open one more store in Singapore in the next couple of weeks, and then in Malaysia, Indonesia and Sri Lanka,” said Amjad Hussain, corporate marketing head, Malabar Gold and Diamonds.

It also plans to double its domestic network, but at a slower pace.

“As there are a lot of restrictions on gold imports now, it would not make sense for us to open stores at a pace we would have done otherwise,” Hussain said.

The next few months will see the jeweller open stores in cities including Bangalore, Ahmedabad and Nasik.

Malabar operates 111 stores, 74 of them in India.

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