Malabar Gold & Diamonds launches 400th store in Noida

Malabar Gold & Diamonds, which has been on a global expansion spree, has announced the launch of its 400th showroom with the opening of a new showroom at sector 18, Noida. With a current turnover of ₹63,000 crore and presence in 13 countries, the brand is targeting an exponential increase in revenue to INR 78,000 crores and to open 60 showrooms expanding its presence to 15 countries and 22 States and 3 Union Territories in India in the current FY. 

M. P. Ahammed, Chairman of Malabar Group, stated, “This milestone is a testament to our growth ambitions and marks a significant step in our ever-expanding footprint across India and globally in the journey to be the No: 1 global jewellery retailer. I would like to convey my sincere gratitude to all our customers, management team members, shareholders and other stakeholders for their contributions in making this occasion truly significant. We have a comprehensive business strategy in place targeting expanding with 60 new showrooms and manufacturing units, aiming for a turnover of INR 78,000 crores in the current financial year, and committing an investment of over INR 5,000 crores to drive growth.”

Adding to this, Asher O, Managing Director – India Operations, Malabar Gold & Diamonds, said, “Malabar Gold & Diamonds is making great strides across India, which remains our biggest market and opportunity, and we have clear plans in place to continue the growth momentum. We will be strengthening our presence within existing and new states and union territories reaching a total of 22 States and 3 Union Territories by end of this financial year.”