a day ago
Malabar Gold & Diamonds crosses 400 showrooms
Malabar Gold & Diamonds, the 5th largest jewellery retailer globally, proudly celebrates a major global milestone with the launch of its 400th showroom. The showroom was inaugurated by M.P. Ahammad, Chairman, Malabar Group, in the presence of O. Asher, Managing Director – India Operations; K.P. Veerankutty, Group Executive Director; Salish Mathew, Group Chief Marketing Officer; P.K. Siraj, Head – Retail Operations (Rest of India); N.K. Jishad, Regional Head – North; and other senior management team members, customers & well-wishers.
This landmark expansion was marked by the opening of a new showroom at Noida, India, reinforcing the brand's rapid global expansion.
The launch of Malabar's 400th showroom is part of a broader, ambitious growth strategy aimed at deepening Malabar's presence across India and globally. With a current turnover of USD 7.36 Billion and presence in 13 countries, the brand is targeting an exponential increase in revenue to USD 9 Billion and to open 60 showrooms expanding its presence to 15 countries and 22 States and 3 Union Territories India in the current FY.
As Malabar scales its retail footprint, it remains committed to generating employment, with plans to expand its global workforce to nearly 27,250 management team members: further solidifying its status as one of the world's most trusted and responsible jewellery brands.
Mr. 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. '
'We have a comprehensive business strategy in place targeting expanding with 60 new showrooms and manufacturing units, aiming for a turnover of USD 9 Billion in the current financial year, and committing an investment of over USD 600 Million to drive growth.'
'Our expansion will create additional 3,500 direct employment opportunities, in addition to supporting the large jewellery manufacturing ecosystem. Our operations are built on a foundation of complete transparency and strict compliance in addition to collaborating with trade bodies, financial houses, government regulators to make sure that our global operations are robust, trustworthy, and beyond reproach' commented Mr. Abdul Salam KP, Vice-Chairman of Malabar Group.
''We are the largest jewellery retailer crafting, promoting, and selling jewellery that is an intersection of Indian art, culture, heritage, and tradition to a global audience across 13 countries and an ambitious expansion plan is in place which involves strengthening our retail presence in existing regions with more showroom launches, as well as charting expansion into new countries such as New Zealand and Ireland in the current financial year, increasing our total presence into 15 countries', commented Mr. Shamlal Ahamed, Managing Director – India Operations, Malabar Gold & Diamonds.
