This is for the first time that an Indian jewellery retailer has been opening such a large number of showrooms spread across six nations in a single day.
The new showrooms would be located in Al Khail Mall, Al Hazana Lulu, Al Buhaira Lulu, Sahara Centre, Ajman City Centre in the UAE, Mall of Qatar, Lagoona Mall in Qatar, Muscat City Centre in Oman, AMK Hub in Singapore, Ampang Mall in Malaysia and Warrangal in Telangana, India.
“The opening of 11 showrooms in a single day across six countries reflects our strong conviction and confidence in the overall growth of the gold and diamond sector, despite challenging circumstances in certain markets. We are getting wide acceptance in the global market place. This is also one of the reasons we are expanding our global presence. Our core business values such as adherence to transparency, honesty and quality along with our value-added services, product designs that are suited to every class of customer taste cutting across age groups are the key factors that give us global acceptance,” said M P Ahammed, chairman of Malabar Group.
Currently, Malabar Gold & Diamonds has 197 showrooms, of which 90 showrooms are in India and other 107 showrooms abroad. The rapid expansion of showrooms across geographies is part of the group’s strategy to fast expand its global footprint. In FY2017 alone, Malabar Group has opened 27 showrooms across nations.
Abdul Salam K P, group executive director, Malabar Group, said, “Despite the bull-run of cryptocurrency, introduction of GST in India and VAT in the UAE and Saudi Arabia, we believe that the gold and diamond trade will sustain growth in the long run and will remain as the best commodity for investment and as a saving instrument in addition to being used as jewellery. As consumers adjust to the new tax regimes in different countries, we believe that the market will record stronger growth as people adjust their budgets for ornaments.
“In 2018, we will be opening more showrooms as well as manufacturing units. This will fuel our vision to become the top jewellery retailer in the world.”
Shamlal Ahammed, managing director of Malabar Gold & Diamonds’ International Operations, said, “In 2018, we will be expanding into new horizons, marking our presence in countries such as the US, Sri Lanka, Brunei and Bangladesh. As part of its global expansion plans, Malabar Gold & Diamonds will be opening another 50 showrooms in this year in different formats in various countries.”
It has decided to organise a grand ceremony at Lulu Al Hazana in Sharjah to celebrate crossing the milestone of 200 showrooms globally.
The upcoming showrooms of the group are at Abbasiya (Kuwait), Mannarkad, Mall of Travancore (Kerala), Forum Mall, Bangalore (Karnataka), Himayat Nagar, Hyderabad, Kondapur, Hyderabad, Karim Nagar (Telangana), Noida (UP), South Extension (Delhi), Vashi, Mumbai, Thane, Mumbai, Kolhapur (Maharashtra), Rajkot, Surat (Gujarat) and Ludhiana (Punjab).
In India, the company currently operates manufacturing units in Kerala, Tamil Nadu, Karnataka, Telangana, Maharashtra, West Bengal and in Saudi Arabia, Qatar and the UAE.
Asher O, managing director, India Operations of Malabar Gold & Diamonds, said, “The group is planning to set up more showrooms as well as manufacturing units in the country, eventually generating more employment opportunities and enhancing initiatives like ‘Make in India’ being implemented by the Government of India.
Malabar Group believes that the most successful companies are those which integrate sustainability into their core business. The group is always proactive when it comes to CSR activities right from the inception. The key focus areas of the CSR initiatives of Malabar Group are in the areas of health, education, women empowerment, housing and environment.
The organisation has kept aside five per cent of its profit for the CSR activities in all the regions that they operate. The group, which currently has showrooms across the GCC, India, Malaysia and Singapore, undertakes several welfare activities with the association of like-minded organisations in the respective regions.
Malabar Gold & Diamonds is the flagship company of Malabar Group, a leading diversified Indian business conglomerate.
Established in 1993 in the Indian state of Kerala, Malabar Gold & Diamonds today has a strong retail network of over 200 outlets spread across nine countries, 13 wholesale units in addition to offices, design centres and factories spread across India, the Middle East and Far East. With an annual turnover of US$4.5bn, the company currently ranks among the five big jewellery retailers globally.
With 11 cluster manufacturing units in India and the GCC, the company currently has nine jewellery brands to cater to the discerning needs of customers. With headquarters in Kerala and branches across India, the Middle East and Far East, Malabar Group is best known for its activities in the field of gold, diamonds, silver and lifestyle articles.
The group also operates MGD – Lifestyle Jewellery, a retail concept offering trendy and light weight jewellery that represents the independent and the modern woman through its designs and collections.
The group, owned by over 1,700 shareholders, excels in quality products and services, and has more than 12,000 professionals working for its continued success.
Malabar Gold & Diamonds also features an online store, www.malabargoldanddiamonds.com, providing customers the opportunity to purchase their favourite jewellery any time and on any day from the comfort of their homes.