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Malabar Gold & Diamonds inaugurates 100th store

By VJ Media Bureau | Vjmedia Works | September 30, 2013

The company is bullish on North India with expansion plans in Gurgaon, Calcutta and Ahmedabad.

Malabar Gold & Diamonds, reportedly the world's third largest jewelry retailer, inaugurated their 100th store at Gold Souk Mall, Gurgaon. The store was inaugurated by legendary cricketer Kapil Dev. The company with a strong network in India and the GCC (Gulf Cooperation Council) and having a turnover of Rs. 22,000 crore will reinforce its position among the top jewellery brands in the world.
 
After embarking on its ambitious 4-year expansion plan last year, Malabar Gold & Diamonds is also foraying into new markets to drive growth. With its eyes set on the "Number One” position, the jeweler which has already conquered markets in South India and the Middle East is now expanding its presence in North Indian markets with news stores coming up in Gurgaon, Calcutta and Ahmedabad. The company is also looking to mark an entry into South Asian markets with plans of expansion in Singapore, Sri Lanka, Indonesia, Malaysia and Bangkok, over the next few months.

During the launch of the new store in Gurgaon, M.P. Ahammed, Chairman, Malabar Group, spoke about the company's expansion and diversification plans with a focus on pulling in diverse and exclusive clientele from across the globe. "We have chalked out a long-drawn strategy to attract more and more young men and women and widen our product offerings to a more global audience. The company is embodying a change to help scale greater heights and to serve discerning customers better. As a step in this direction, Pink Chic-the new mini boutique, Everafter Wedding Bands & Valent- men's brand will be launched during the 20th anniversary celebration span. We are looking at a younger and more elite crowd which has a strong affinity towards the latest trends. This market is a major driver for growth in today's industry and Malabar's new avatar is all set to create a mark within this niche.”
 
 "The celebration is dedicated to our customers as a thank you gesture for appreciating our innovations and pioneering efforts in jewellery retail for the last two decades. As part of this, we will be offering customers' exclusive privileges during the 21 day celebrations,” added M .P Ahammed.
 
Malabar Group also plans to embark on massive expansion and diversification plans into realms like townships, commercial hubs, e-commerce, organic farming, IT parks and state-of-the-art gold and diamond manufacturing facility. Malabar Developers, the construction and property development arm of Malabar Group, having constructed over 10 lac square feet of world class commercial spaces and created superior living spaces to thousands of families, is poised for a leap in property management. Malabar Developers will soon be constructing premium homes in all metros across India.
 
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