The jewellery brand eyes the target of hitting 350 stores milestone globally this month
New Delhi: Kozhikode-based Malabar Gold & Diamonds is set to open 10 new stores and targets reaching a total of 350 stores globally this month, a release by the company said on Friday.
Malabar is ranked as the world’s sixth-largest jewellery group and the 19th in Deloitte’s Luxury Goods global ranking.
“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,” said MP Ahammed, Chairman of Malabar Group.
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, expanding the brand’s presence in these regions. The remaining eight stores will open in states where the brand already has a strong presence.
On the international expansion plans, the jewellery brand is furthering its international expansion by opening new stores in countries such as New Zealand, Egypt, Turkey, and South Africa in addition to the countries where it currently operates.
The Malabar Group currently employs around 22,000 people from various countries and ethnicities. The company aims to increase its workforce to one lakh within the next three years, creating more job opportunities.
