Malabar Gold to invest Rs 5,000 cr for expansion; 400th store launched

CHENNAI: Jewellery retailer Malabar Gold & Diamonds launched its 400th showroom in Noida, marking its expansion plans to support its growth strategy with an investment of Rs 5,000 cr.

With a current turnover of Rs 63,000 crore and presence in 13 countries, the brand is targeting an exponential increase in revenue to Rs 78,000 crore and to open 60 showrooms expanding its presence to 15 countries and 22 states and 3 union territories in 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.

MP Ahammed, chairman, 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. We are committing an investment of over Rs 5,000 crore to drive growth.” Asher O, MD – India Operations, Malabar Gold & Diamonds, said, “We are making great strides across India, which remains our biggest market and opportunity, and we have clear plans in place to continue the growth momentum.