Malabar Gold & Diamonds plans to establish 10 new stores, bringing the total number of locations to 350 by March.
Malabar is now the world’s sixth-largest jewellery group and ranks 19th in Deloitte’s global luxury goods list.
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; and Patiala in Punjab and Puducherry. This is Malabar Gold & Diamonds’ first venture into Rajasthan and Puducherry.
The firm also plans to boost its employment to one lakh within the next three years, according to a press statement.
MP Ahammed, Chairman of Malabar Group, stated, “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,” he said.
The company is furthering its international expansion by opening new stores New Zealand, Egypt, Turkey, and South Africa in addition to the countries where it currently operates.
