MALABAR GOLD & DIAMONDS CONTINUES RAPID EXPANSION, OPENS ITS 300TH SHOWROOM
19th January 2023
Becomes world’s 6th largest jewellery retailer with its 300th global showroom in Dallas. Global expansion plans include showrooms in the UK, Bangladesh, Australia, Egypt, Canada, Turkey and South Africa. To create around 6,000 employment opportunities.
Malabar Gold & Diamonds, one of the largest gold and diamond retail chains in the country, has launched its 300th global showroom in Dallas, Texas in the US. Located at Preston Road, this is the third showroom of the company in the US. The showroom makes Malabar Gold and Diamonds the 6th largest jewellery retailer globally with a strong retail network of 300 showrooms across 10 countries.
Susan Fletcher, Collin County Commissioner, and Jeff Cheney, Mayor of Frisco, Texas, jointly inaugurated the showroom in the presence of Shamlal Ahamed, Managing Director – International Operations. The inauguration event was virtually attended by MP Ahammed, Chairman, Malabar Group, KP Abdul Salam, Vice-Chairman, Malabar Group, O Asher, Managing Director – India Operations, AK Nishad, Group Executive Director – Manufacturing & B2B, along with other team members, well-wishers and dignitaries.
Commenting on the launch, MP Ahammed, Chairman, Malabar Group, said, “It is a moment of great pride for us as we touch the 300th mark with this new showroom in Dallas. We started off our journey with a small showroom in Kozhikode, Kerala and in less than 30 years, we have built a strong retail presence with 300 showrooms across 10 countries. We would like to thank our customers, shareholders, employees and other stakeholders for their continued support.”
MP Ahammed added, “We will further strengthen our retail presence in the existing markets apart from entering new markets with our differentiated products, services and quality assurances. The support and encouragement from our valued customers and trade partners will motivate us to further accelerate our expansion plans and pursue our goal to become the No.1 jewellery retailer globally. We’ll be further strengthening our manufacturing capabilities to support our retail expansion drive globally.”
Malabar Gold & Diamonds has robust retail expansion plans in India which involve key cities such as Bhopal and Surat as well as key Tier 2 markets such as Iritty, Anakapalle, Nanded, Vapi, Vasai and Vizianagaram.
Malabar Gold & Diamonds also plans to open stores in the UK, Bangladesh, Australia, Egypt, Canada, Turkey and South Africa. These expansions are expected to create approximately 6,000 employment opportunities in the retail, manufacturing, technical and management areas. To further enhance its omni channel initiative, Malabar Gold & Diamonds are availing of services from prominent technology partners such as Microsoft, IBM, Accenture, E & Y, Deloitte.
Malabar Gold & Diamonds is known globally for offering an unparalleled jewellery buying experience with convenience, and customer-friendly policies along with the ‘10 Malabar Promises’ of incomparable quality and service assurance. These Malabar Promises include assured lifetime free maintenance, free insurance, guaranteed buyback, IGI and GIA-certified diamonds ensuring 28-point quality check of global standards, zero deduction gold exchange, complete transparency, 916 hallmarked pure gold, responsible sourcing, fair price policy and fair labour practices.
Malabar Gold & Diamonds ensures compliance through responsible sourcing, ethical business practices, and transparent and professional management. Malabar Group believes that the most successful companies are those which integrate responsibility and sustainability into their core businesses. The Group commits 5% of their profit to support socially responsible purposes both in India and abroad, a practice they adopted since its inception in 1993. Hunger, health, education, women empowerment, housing and environment are the key focus areas of the Group.
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 $4.1 billion. Malabar Gold & Diamonds currently ranks the 6th largest jewellery retailer globally and has a strong retail network of 300 outlets spread across 10 countries in addition to multiple offices, design centres, wholesale units and factories spread across India, Middle East, Far East and the US. The Group, owned by more than 4,000 shareholders, has more than 16,500 professionals from over 26 countries working towards its continued success. Malabar Gold & Diamonds also has an online store providing customers convenience of shopping jewellery from the comfort of their homes.
About Malabar Gold & Diamonds:
Malabar Gold & Diamonds is the flagship company of Malabar Group, a leading diversified Indian business conglomerate. Founded in 1993 by a team of enterprising businessmen led by Mr. Ahammed MP at the northern city of Kozhikode, Kerala, Malabar Gold & Diamonds has come a long way to become the world’s fifth largest jewellery retailer with ove 300 showrooms spread over ten geographies with its annual turnover touching approximately Rs 30,000 crore. With 13 cluster manufacturing units in India and GCC – the company currently has 12 jewellery brands to cater to the discerning needs of customers. This is a rare feat for a business house that started its long march as a single shop retail outlet and reached the pinnacle of its business vertical in such a short span of time. With headquarters in Kerala and branches across India, Middle East and the Far East, Malabar Group is best known for its activities in the field of gold, diamonds, silver, and lifestyle articles.
