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In line with its global expansion strategy, jewellery retailer Malabar Gold & Diamonds is set to open 10 new stores and aims to reach 350 by 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. 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 currently employs around 22,000 people from various countries and aims to increase its workforce to one lakh within the next three years.
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