Indian Jeweler Broadens Reach to 7 New Countries
Indian jeweler Malabar Gold & Diamonds has set its sights on global expansion, planning to open showrooms in seven additional countries.
The next phase in the company’s growth includes locations in the UK, Bangladesh, Australia, Canada, Egypt, Turkey and South Africa, it said Saturday. Launching new stores will create approximately 6,000 jobs, Malabar explained. The jeweler already has stores in 10 countries, including India, the US, the United Arab Emirates (UAE) and Singapore. Malabar aims to make Indian jewelry “more acceptable and trustworthy on the global level,” the company noted.
“We are very excited about our future growth plan and will immediately be expanding into new markets,” said Shamlal Ahamed, managing director of international operations for Malabar. “Apart from this we will further strengthen our retail footprint within existing markets as well.”
Malabar will also extend its retail network within India, especially in the north and central Indian states, it said. The company believes its rapid expansion will enable it to become the “number-one jeweler globally.”
The news comes as the company launched its 300th boutique in Dallas, Texas — its 3rd US store.
“We constantly make efforts to evolve in line with the diverse preferences of our multicultural and multinational customers, as part of which we will focus further on product variety and a superior shopping experience, in addition to opening more stand-alone stores,” Ahamed added.
Main image: The new Malabar showroom in Dallas, Texas. (Malabar Gold & Diamonds)