New Delhi: Malabar Gold and Diamonds, on Thursday said that it will invest Rs 1,000 crore and generate 4,000 jobs in Maharashtra by FY25. The announcement came during the launch of Malabar National Hub (M-NH), its centralised base of India operations, at Andheri East in Mumbai.
Spread over 50,000 sq. ft., M-NH brings under one roof Malabar Gold & Diamonds‘s multiple operations such as retail, procurement and supply chain, e-commerce, digital gold, digital marketing, CRM, omnichannel operations, merchandising and bullion, corporate gifting and B2B divisions, human resources and legal.
The company said that it has deployed more than 450 employees to run the operations at M-NH. Mumbai being the financial capital of India and a major global jewellery and diamond trading hub, Malabar Gold & Diamonds has set up its base for its national operations in the city to leverage its strategic advantages.
Commenting on the inauguration of M-NH, M.P Ahammed, chairman, Malabar Group said, “It will fuel our global growth aspiration and lay the foundation for the next phase of growth. The consolidation of all our key functionalities at M-NH will enhance efficiency and streamline management, as we focus on further growing our network of more than 190 retail showrooms across the country.”
“The opening of Malabar Gold & Diamonds’ national operational base in Mumbai is a strong testimony to the state’s conducive environment for investment and favourable business ecosystem,” Devendra Fadnavis, Deputy Chief Minister of Maharashtra said on this inauguration.
Asher O, Managing Director – India Operations, Malabar Gold & Diamonds said, “India is our biggest market, our aim is to strengthen our retail presence in existing regions and expand into new territories including Rajasthan, Puducherry, Uttarakhand, Jharkhand, Goa, Assam, Tripura, and Jammu and Kashmir. Mumbai’s strategic edge will help us further drive growth in India.”
Currently, the company has over 330 outlets spread across 11 countries.
