MALABAR GOLD & DIAMONDS LAUNCHES ITS 335^TH GLOBAL STORE & IS THE 1ST INDIAN JEWELLERY RETAILER TO BEGIN OPERATIONS IN CANADA

28th October 2023

Malabar Gold & Diamonds has made history as the first Indian jewellery retailer to open in Canada with their new store in Mississauga, at Heartland Town Centre within the Greater Toronto Area. With this, the brand marks its extensive brand presence, with 335 stores spread across the UAE, Qatar, Kuwait, Oman, KSA, Bahrain, Singapore, Malaysia, the USA, the UK, Canada, and India. Currently ranked as the world’s 6th largest jewellery retailer, Canada has become the 12th country on Malabar Gold & Diamonds’ global operational map and the 2nd country in North America

The store was virtually inaugurated by M.P Ahammed, Chairman of Malabar Group. Ms. Nina Tangri, the Associate Minister of Business for Ontario, performed the ribbon-cutting ceremony in the presence of Mr. Shamlal Ahamed, Managing Director, International Operations, Malabar Gold & Diamonds; Mr. Ameer CMC, Director of Finance & Administration, Malabar Gold & Diamonds; Mr. Joseph Eapen, Regional Head – North America, Malabar Gold & Diamonds; and other Malabar Gold & Diamonds management team members, customers and well-wishers.

“The opening of our first store in Canada brings me immense pride and joy, marking a significant milestone for us as the first Indian international jewellery brand to begin operations in Canada. Located at Heartland Town Centre in Mississauga within the Greater Toronto Area, our new store stands as the largest jewellery store in the country. The expansion into Canada presents us with a unique opportunity to showcase our jewellery to a diverse customer base that truly appreciates the artistry and craftsmanship of Indian jewellery. On behalf of Malabar Group, I would like to thank all our customers, management team members, shareholders and other stakeholders for being an integral part of helping us craft this historic moment and move one step closer towards our goal of being crowned as the world’s no. 1 jewellery retailer,” said Malabar Group Chairman, M.P. Ahammed.

Spread across 7,800+ sq. ft., the new outlet is the largest jewellery store in Canada, housing over 30,000 designs across 25 exclusive brands and collections in gold, diamond and precious gem jewellery. The new store will also showcase an extensive collection of bridal jewellery, along with a wide range of options for occasional wear, daily wear and office wear.

“We are extremely thrilled to extend our operations into the 12^th country globally and the 2^nd country within the continent. As Canada and the USA stand out as highly appealing destinations for Indian sub-continental expatriates in the Western hemisphere, the North American market presents vast potential, and we have ambitious expansion plans in the region, covering British Columbia and Alberta in Canada. Concurrently, in the USA, we are set to expand into Naperville, Chicago; Artesia, Los Angeles; and Atlanta, Georgia. As we continue to take significant steps in our international expansion journey, both the new store in Canada and our existing ones in the USA will play a pivotal role in shaping our future initiatives in the North American region, commented Mr. Shamlal Ahamed, Managing Director- International Operations, Malabar Gold & Diamonds.

The store also offers a customised jewellery designing facility, presenting customers with the option to design their own jewellery with the assistance of Malabar Gold & Diamonds’ expert designers and craftsmen. The store is also equipped with a luxurious customer lounge area, enabling comfortable and hassle-free jewellery shopping.

“This is indeed a historic moment for Malabar Gold & Diamonds. The new store, with its enticing array of jewellery, transparent policies, and luxurious amenities, is strategically positioned to cater to the diverse tastes and preferences of jewellery enthusiasts in Canada. In addition to being a highlight of our international expansion plan, Malabar Gold & Diamonds’ expansion into Canada will further our aim of showcasing Indian-made jewellery to a global audience, upholding the motto of ‘Make in India; Market to the World’. We have charted an ambitious and exciting plan for the future, which involves strengthening our retail presence in existing regions with more store openings and expansion into new territories, commented Mr. Abdul Salam K.P., Vice Chairman of Malabar Group.

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. Recently, the brand further strengthened its commitment by introducing a 100% exchange value on diamonds, positioning diamonds as an investment as appealing as gold. Apart from this, the Malabar Promise also includes transparent pricing, assured lifetime maintenance from any of the stores across 12 countries, guaranteed buyback, tested and certified diamonds, 100% value on gold exchange, 916 hallmarked jewellery, responsible sourcing, a fair price policy, and fair labour practises.

“The brand continues to strengthen its expansion within India in tandem with the great strides achieved internationally. Store openings are being planned in the states of Rajasthan, Puducherry, Uttarakhand, Jharkhand, Goa, Assam, Tripura and Jammu & Kashmir. We aim to set new benchmarks in the jewellery trade and provide an exceptional customer experience by strictly adhering to our commitment of 100% compliance, transparency and responsibility, commented Mr. Asher O, Managing Director – India Operations, Malabar Gold & Diamonds.

ESG (Environmental, Social & Governance) has been a primary commitment of Malabar Group since its inception in 1993, setting 5% of its net profits towards such causes in every region of operation. The group operates on the strong belief that the most successful companies are the ones that integrate responsibility and sustainability into their core business. The key focus areas of Malabar Group’s ESG initiatives are Health, Housing, Hunger Eradication, Education, Environment and women empowerment. The group periodically strengthens its ESG goals to remain a socially conscious and responsible organisation.

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 $5.2 billion, the company currently ranks as the 6^th largest jewellery retailer globally and today has a strong retail network of 335 outlets spread across 12 countries in addition to multiple offices, design centres, procurement centers, and factories spread across India, Middle East, Far East, the USA & the UK. The group, owned by over 4,000 shareholders, has more than 21,000 employees 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 favourite jewellery at any time and on any day from the comfort of their homes.

The group also operates MGD – Lifestyle Jewellery, a retail concept offering trendy and lightweight jewellery that represents the independent and the modern woman through its designs and collections. 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.