Indian jeweller Malabar Gold & Diamonds opens 11 stores in one day
Indian jewellery chain Malabar Gold & Diamonds today added 11 showrooms across six countries to its network.
Taking its retail store count to 208, the showrooms include AMK Hub in Singapore, Ampang Mall in Malaysia and Warangal in Telangana, India. Other showrooms are in malls across the UAE. The brand has 90 showrooms in India, and last year opened 27 showrooms internationally.
As well as another 50 showrooms in different formats internationally, the Malabar Group plans to add more manufacturing units this year, says chairman MP Ahammed. “This will fuel our vision to become the top jewellery retailer in the world.”
The company will expand into new countries such as Brunei, Bangladesh, Sri Lanka and the US, says Malabar Gold international MD Shamlal Ahammed.
The expansion will generate more employment and enhance such initiatives as the government’s Made In India, says Malabar Gold & Diamonds India MD O Asher. The group has earmarked 5 per cent of its annual profit for CSR activities in five key areas: housing, health, environment, women’s empowerment and education.