RAPAPORT… India-based jewelry chain Malabar Gold & Diamonds is expanding its store network to include an additional 56 locations globally.
The company will invest $220 million over the next two years to broaden its offering, creating 1,750 new jobs, it said last week. A total of 40 news shops will open in India, while 16 will open overseas — in Singapore, Malaysia, Oman, Qatar, Bahrain and the United Arab Emirates (UAE).
“In over 25 years we have transformed from a small retail jewelry business to a global player across the verticals of gold- and diamond-jewelry retail, manufacturing and multi-retail business,” said MP Ahammed, chairman of Malabar. “Transparency and customer trust have been our growth pillars, and the new expansion will take us to the next level.”
The chain currently has over 250 outlets in 10 countries, 14 wholesale units and design centers and factories in India, the Middle East, the Far East and the US.
Image: A newly opened Malabar store. (Malabar Gold & Diamonds)
Malabar Gold & Diamonds Opens 56 New Stores
The Bottom Line
- Malabar Gold & Diamonds will add 56 stores worldwide, including 40 in India and 16 across Singapore, Malaysia, Oman, Qatar, Bahrain, and the UAE.
- The company is investing $220 million over the next two years to expand its retail footprint and product offerings.
- Malabar currently operates over 250 outlets in 10 countries, supported by 14 wholesale units and multiple design centers and factories.
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