Malabar Gold & Diamonds is set to open ten new stores with an aim to reach 350 stores by the month of March.
Currently, Malabar is 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.
The company also aims to increase its workforce to one lakh within the next three years, it said in a press release.
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’
“This accomplishment brings immense joy, not only to us but also to jewellery enthusiasts in the 14 countries where the brand is present. As we prepare to open ten new stores, we express our sincere gratitude to all our valued customers, team members, and investors who have played a key role in making this possible. With each new store opening, we are moving closer to our goal of becoming the world’s number one jewellery and luxury brand,” he said.
The company is furthering its international expansion by opening new stores New Zealand, Egypt, Turkey, and South Africa in addition to the countries where it currently operates.
