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The Kerala-based jewellery retailer Malabar Gold has undergone a brand makeover as it seeks to expand its presence globally.
The new look and identity, conceptualised by the WPP group company, Brand Union, aims to raise the international appeal and profile of the company.
Changes will be seen and felt in the brand's logo, retail ambience, design and products.
The company's name has also been changed to Malabar Gold and Diamonds to signify the thrust the retailer plans to give to diamond retailing.
Said Mr M.P. Ahamad, Chairman, Malabar Group of Companies, at a press conference in Dubai, “The brand identity was developed over a 15-month period which will help scale our presence in the international markets.”
According to Mr Abdul Salam, Group Executive Director, the new identity positions Malabar as the ‘champion of contemporary tradition' – a brand that is proud of its Indian beginnings and craftsmanship yet relevant to the tastes and design preferences of today's audience.
Malabar, which started out in 1993 with a store in Calicut, today has 64 outlets across southern India and West Asia.
Foreign markets
It plans to enter the Far-East (Singapore, Indonesia, Malaysia) and subcontinent countries of Bangladesh and Sri Lanka soon.
The western markets of London, the US and Canada are also on the radar.
Domestic expansion
The retailer also plans to expand within India with stores in Delhi, Mumbai, Ahmedabad, Kolkata, Punjab and Haryana.
Slowdown impact
The company is confident the global slowdown will not impact its overseas expansion plan.
A few years ago, Tata-owned Tanishq had shut down its stores in the US, as a fallout of the recession.
To this, Mr Tiny Philip, Chief Advisor and board member, said, “We see an opportunity in the crisis. The next decade will see the western consumer moving towards value-for-money buying which is what Malabar stands for. Gold will also be seen as an investment tool.”
From $20 million 2002, the company's turnover has grown to $2.4 billion today. “We project $6 billion by 2015,” said Mr Philip.
The company plans to invest $700 million over four years to expand its retail network to 220 outlets globally.
The money will be raised from private investors (consisting of promoters, high-networth individuals, non-resident Indians and business people). Malabar already has an investor base of 1,600.
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