MALABAR GOLD & DIAMONDS OPEN 10 NEW STORES; AIMS TO REACH 350 STORES GLOBALLY BY MARCH
28th February 2024
Malabar Gold & Diamonds in line with its global expansion strategy, is set to open ten new stores and aims to reach 350 stores by the month of March. Currently, Malabar is ranked as the world’s sixth-largest jewellery group and the 19th in Deloitte’s Luxury Goods global ranking.
The new store openings in India include Latur, Satara and Nagpur in Maharashtra; Kolar and Whitefield in Karnataka; Jaipur in Rajasthan; Chandni Chowk in Delhi; Vanasthalipuram in Andhra Pradesh; Patiala in Punjab and Puducherry. This marks the first entry of Malabar Gold & Diamonds into Rajasthan and Puducherry, expanding the brand’s presence in these states. The remaining eight stores will open in states where the brand already has a strong presence.
MP Ahammed, Chairman of Malabar Group, said, “We have achieved great progress at the global level by embracing the concept of ‘Make in India, Market to the World.’ This accomplishment brings immense joy, not only to us but also to jewellery enthusiasts in the 14 countries where the brand is present. As we prepare to open ten new stores, we express our sincere gratitude to all our valued customers, team members, and investors who have played a key role in making this possible. With each new store opening, we are moving closer to our goal of becoming the world’s number one jewellery and luxury brand.”
Malabar Gold & Diamonds is furthering its international expansion by opening new stores in countries such as New Zealand, Egypt, Turkey, and South Africa in addition to the countries where it currently operates. The Malabar Group, known for creating job opportunities and providing an excellent working environment, currently employs around 22,000 people from various countries and ethnicity. The company aims to increase its workforce to one lakh within the next three years, creating more job opportunities.
About Malabar Gold & Diamonds:
The company offers 10 promises to its customers: a transparent price tag detailing the exact cost of each piece of jewellery, including stone weight, net weight, and stone charge; fair pricing; lifetime free maintenance for jewellery at any store in the 14 countries; 100% value for gold and diamonds when exchanging old gold jewellery; HUID jewellery with 100% purity of gold; certified diamonds verified by 28 lab tests; one-year free insurance cover on all jewellery with an option to extend insurance and warranty based on customer requirements; responsibly sourced gold from approved sources; and labour considerations. These promises encompass the best working environment, providing all employment benefits and protections.
