Media Release
Kozhikode, Jan 4: As part of its global expansion plans for 2022, Malabar Gold & Diamonds will open 22 new showrooms in India and abroad in January itself, pitching itself firmly on the path towards emerging as the largest retail jewellery chain in the world. This is for first time in India that a jewellery retailer is opening so many showrooms in a single month.
Out of the 22 new showrooms, 10 will be in India and the rest will be in West Asia and South East Asia where the brand already has presence. The addition of these stores will also grow the brand’s retail footprints into Tier 2 and 3 towns of India where the brand is rapidly gaining acceptance.
The massive expansion drive in January will begin with the launch of the artistry concept store in M G Road in Bengaluru on January 8 followed by showroom inaugurations in Solapur in Maharashtra on January 9, Siddipet in Telangana and Mydin Mall Seremban Malaysia on January 13, Tiruppur in Tamil Nadu on January 14, Penang in Malaysia on January 20, HSR Layout in Bengaluru on January 21, Varanasi in Uttar Pradesh, Landmark Shopping Mall at Gharafa in Qatar, Al-Meera Jeryan Jenaihat in Qatar, Al-Khoud Mall and Mall of Oman in Muscat on January 22, Raipur in Chattisgarh on January 27, Hadapsar, Pune in Maharashtra on January 28, City Center Al-Zahiya, Sharjah, three showrooms in Dubai Gold Souk, Crown Mall Jebel Ali in Dubai, Lulu Muweilah Hypermarket in Sharjah on January 29, Gurugram in Haryana and Preet Vihar in Delhi on January 30.
The group will invest a total of Rs 800 crore for this new phase of expansion in January this year. With the aim of becoming the largest jewellery group in the world, Malabar Gold & Diamonds is targeting to open 750 stores and become the number one gold retailer in the world. This expansion programme will create approximately 5,000 job opportunities in the retail, manufacturing, technical and management areas related to jewellery trade, said Malabar Group chairman M P Ahammed.
“In 28 years of our illustrious journey, Malabar Gold & Diamonds has grown from strength to strength. We will continue to strengthen our retail presence in the regions where we have established a robust presence and also enter new markets with our differentiated services and products. With the launch of 22 showrooms in January, we are all set to make an impactful beginning to the New Year. We are confident that our customers will enjoy the world-class jewellery shopping experience at all our new showrooms and also appreciate our values based on transparency, trust, quality and service. Our mission is to Make in India and Market to the world. Our commitment is to highlight further the brand value of Indian jewellery at the international level and create more job opportunities in the manufacturing sector domestically. This is our core policy,” said MP Ahammed.
Abdul Salam KP, vice chairman of Malabar Group, said, “We are excited about our future growth. On the one hand, the plan involves a large-format artistry store in Bengaluru while on the other hand, we continue to focus on optimal store sizes internationally and in smaller cities across India. We are confident that this two-pronged strategy will yield positive results.”
“Our retail expansion is a part of our strategy to further strengthen our retail footprint in the territories where we have strong presence as well as foray into new markets with our differentiated services and product offerings. Having seen in our research that both rural and urban markets are rapidly emerging in terms of potential, we are all geared up to set new standards of customer comfort and convenience in these new markets,” said O Asher, managing director, India Operations of Malabar Gold & Diamonds.
“Malabar has played a vital role in making Indian jewellery more acceptable and trustworthy at the global level in the recent years. The current expansion plans will further consolidate its pole position both domestically and internationally,” said Shamlal Ahamed, managing director, International Operations.
Well-known for its high standards of purity and quality, Malabar Gold & Diamonds offers a wide range of jewellery in gold, diamond and precious gemstones to cater to both traditional and contemporary sensibilities. The brand also offers a variety of specially curated jewellery which represents the diverse traditions and cultural heritage of Indian design. The popular jewellery sub-brands from Malabar Gold & Diamonds such as Mine in unique designs, Ethnix handcrafted jewellery, Precia Gemstone jewellery, Divine jewellery with classic touch, Era uncut jewellery, Viraaz polki jewellery, Starlet collection for children etc offer a great variety of options to its customers.
Malabar Gold & Diamonds upholds its status of a responsible jewellery retail brand by maintaining optimum transparency at various stages of operations from sourcing gold to offering jewellery to its consumers. The group sells responsibly sourced gold from authorized sources. Malabar Gold & Diamonds, one of the top five jewelers in the world dominate the different market with transparency and credibility.
Malabar Gold & Diamonds’ commitment to customers is highlighted not only in the brand’s distinctive offerings like ‘One India One Gold Rate’ but throughout its retail operations with 10 Malabar Promises offered to customers. With the ‘One India One Gold Rate’ initiative, the brand has taken an unprecedented step by offering uniform gold rates across the country. The brand reinforces its commitment to ensuring the best value for money for customers with the Fair Price Promise, which focuses on assigning reasonable making charges to a vast array of jewellery.
Taking transparency to the next level, the assurance of 10 promises by Malabar Gold & Diamonds include a transparent price tag indicating stone weight, net weight and stone charge of the jewellery, assured lifetime maintenance for the jewellery, 100 per cent value for gold when reselling old gold jewellery, zero deduction on exchange, 100 per cent BIS hallmarking certifying the purity of gold, IGI and GIA certified diamonds ensuring 28-point quality check of global standards, buyback guarantee, responsible sourcing and fair labour practices.
Malabar Gold & Diamonds has a robust retail presence in 10 countries. In addition, the group has 14 wholesale units and 9 jewellery making units in India and abroad. The company has an annual turnover of $ 4.51 billion.
Malabar Gold & Diamonds earmarks 5% of the company's profits for various CSR initiatives focusing on education, health, women's empowerment, housing for the poor and environmental protection. The organization has also launched an initiative recently to rehabilitate and care for abandoned and orphaned mothers in Kerala, for which it has already conveyed its willingness to construct rehabilitation provided the government allots a suitable location for the same.