MALABAR GOLD & DIAMONDS LAUNCHES ITS 350^TH GLOBAL SHOWROOM AT NAPERVILLE, ILLINOIS IN THE USA

30th April 2024

Malabar Gold & Diamonds, the 6th largest jewellery retailer globally with an annual turnover of USD 6.2 billion and retail presence of 350 showrooms across 13 countries, has just unveiled its 4th showroom in the USA at Naperville, Illinois

Malabar Gold & Diamonds, the 6^th largest jewellery retailer globally with an annual turnover of USD 6.2 billion and retail presence of 350 showrooms across 13 countries, has just unveiled its 4^th showroom in the USA at Naperville, Illinois. This brings the global jewellery brand’s showroom count globally to 350, with 5 showrooms in North America. Malabar Gold & Diamonds currently has an extensive retail presence across the USA, Canada, the UK, Australia, India, UAE, Qatar, Oman, Bahrain, Kuwait, KSA, Malaysia & Singapore.

The new showroom was inaugurated by HE. Somnath Ghosh, Consul General of India in Chicago in the presence of Mr. Shamlal Ahamed, MD-International Operations, Malabar Gold & Diamonds, Mr. Rakesh Patel of Patel brothers, Mr. Joseph Eapen, President of North America operations of Malabar Gold & Diamonds, community leaders, representatives from government and other authorities, management team members from Malabar Gold & Diamonds, customers and well-wishers.

“The launch of Malabar Gold & Diamonds’ 350^th Global showroom in the USA is a proud occasion for us as it signifies the growing footprint of our brand in the international jewellery arena. Located in the city of Naperville, this showroom will undoubtedly bring the best of what we have to offer in terms of both jewellery & experience. Our unwavering commitment to offering every customer complete transparency and an exceptional jewellery shopping experience has propelled us to being one of the most preferred jewellery retailers in the USA and all the other regions in which we operate. On behalf of Malabar Group, I would like to convey my sincere gratitude to all our customers, management team members, shareholders and other stakeholders for their contributions in making this occasion truly significant.”, commented the Chairman of Malabar Group, M.P Ahammed.

Located at Patel Plaza in Naperville and spread across 6,400+ sq. ft, the new outlet houses over 30,000 designs across 25 exclusive brands and collections in gold, diamond & precious gem jewellery. The new store will also showcase an extensive collection of bridal jewellery, alongside a wide range of options for occasional wear, daily wear & office wear. The other 3 showrooms of Malabar Gold & Diamonds are in Chicago, New Jersey & Dallas.

“The USA is one of the largest jewellery markets in the world in terms of both buying power and population, and I am very excited to launch our 4^th showroom in the country. The large segment of the Indian subcontinental diaspora in the USA is an opportunity for us to expand our offerings to a base of consumers who truly appreciate the artistry of Indian jewellery. Our future initiatives in North America include expansion into Los Angeles, Atlanta, San Francisco, Seattle, Austin, Tampa & Virginia in the USA and in Canada, we have plans covering British Columbia & Alberta”, commented Mr. Shamlal Ahamed, MD-International Operations, Malabar Gold & Diamonds.

Offering an exclusive jewellery shopping experience to the plethora of jewellery lovers in Illinois, the new showroom is equipped with a customized jewellery designing facility, presenting customers with the option to design their own jewellery with the assistance of Malabar Gold & Diamonds’ expert designers and craftsmen.

Mr. Abdul Salam K.P, Vice Chairman of Malabar Group, commented: “With 5 showrooms in the region, Malabar Gold & Diamonds’ success in North America speaks volumes about the growing demand for Indian-made jewellery in the western hemisphere. Aligning with the motto of ‘Make in India; Market to the world’, the heights to which our brand has grown in the international jewellery arena is perfectly encapsulated by Malabar Gold & Diamonds being the highest-ranked Indian jewellery retailer in the Global Powers of Luxury Goods 2023 report published by Deloitte recently”.

In pursuit of promoting India’s renowned indigenous craftsmanship on a global scale, Malabar Gold & Diamonds has embarked on an ambitious expansion plan, which involves strengthening their retail presence in existing regions with more showroom launches, as well as charting their expansion into new countries such as South Africa, Egypt, Bangladesh, Turkey and New Zealand.

“While Malabar Gold & Diamonds is making great strides in the international jewellery sector, our operations in India, which remains our biggest market, is going forward with equal momentum. Our prestigious position in the Indian jewellery market is poised to be strengthened further by our planned expansion within existing states of operation as well as into states such as Uttarakhand, Jharkhand, Goa, Assam, Tripura, and Jammu & Kashmir”, commented Mr. Asher O, India Operations, Malabar Gold & Diamonds.

Malabar Gold & Diamonds is renowned globally for offering an unparalleled jewellery buying experience with convenience and customer-friendly policies along with the ‘Malabar Promise’ of incomparable quality and service assurance. Apart from this, the Malabar Promise also includes transparent pricing, assured lifetime maintenance from any of the showrooms across 13 countries, guaranteed buyback, tested and certified diamonds, 100% value on diamond and gold jewellery exchange, 916 hallmarked jewellery, responsible sourcing, fair price policy, and fair labour practices.

ESG (Environmental, Social & Governance) initiative has been the primary commitment of Malabar Group since its inception in 1993, with 5% of net profits set aside towards such initiatives in each country of operations. The key focus is in the areas of Health, Hunger Free World, Housing, Education, Women Empowerment & Environment. The ESG goals of the organization are periodically strengthened to remain a socially conscious and responsible organization.

About Malabar Gold & Diamonds:

Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a leading diversified Indian business conglomerate.

With an annual turnover of $6.2 billion, the company currently ranks as the 6^th largest jewellery retailer globally and today has a strong retail network of over 350 outlets spread across 13 countries in addition to multiple offices, design centres, wholesale units, and factories spread across India, Middle East, Far East, the USA, the UK, Canada & Australia. The group, owned by more than 4,000 shareholders, has more than 21,000 professionals from over 26 countries working towards its continued success.

Malabar Gold & Diamonds also features an online store www.malabargoldanddiamonds.com providing customers the opportunity to purchase their favorite jewellery at any time and on any day from the comfort of their homes.

ESG (Environmental, Social & Governance) has been the primary commitment of the group since its inception. The key ESG focus areas of Malabar Group are Health, Housing, Hunger Free World, Education, Environment and Women empowerment. Integrating the principles of responsibility and sustainability into its core business, Malabar Group periodically strengthens its ESG goals to remain a socially conscious and responsible organization. The group contributes 5% of its profit to such initiatives in the same country of operation.