Malabar Gold & Diamonds opens 2 new stores in Andhra Pradesh and Telangana, India
- Part of the brand’s expansion plan to launch 56 stores globally in the FY21-22
Malabar Gold & Diamonds, one among the largest jewellery retailers globally with a strong retail network of over 260 outlets spread across 10 countries, inaugurated 2 new showroomsin Eluru, Andhra Pradesh and Kompally, Hyderabad, Telangana, India. This is part of the brand’s expansion plan to launch 56 stores globally, 40 across India and 16 internationally in the FY21-22 to further boost its retail presence across the country, with an overall investment of USD 220 Million and generation of 5000 new jobs.
Eluru showroom is the 13th store of Malabar Gold & Diamonds in Andhra Pradesh and was virtually inaugurated by Mr. M.P. Ahammed, Chairman, Malabar Group. Ms. Shaik Nurjahan, Ex.Mayor of Eluruand Chief Guest of the inauguration event did the ribbon-cutting and opened the showroom for customers.
Kompallystore, the 10th outlet of Malabar Gold & Diamonds in Hyderabad was also virtually inaugurated by Mr. M.P. Ahammed, Chairman, Malabar Group. Mr. K P Vivekananda, MLA, Quthbullapur constituency and Chief Guest of the inauguration event did the ribbon cutting opened the showroom for customers. Both the stores were inaugurated in the presence of key Malabar Gold & Diamonds dignitaries including Dr. P.A. Ibrahim Haji, Co Chairman, Malabar Group; Mr. K.P. Abdul Salam, Vice Chairman, Malabar Group;Mr. O Asher, Managing Director – India Operations, Malabar Gold and Diamonds andMr. Shamlal Ahamed, Managing Director – International Operations, Malabar Gold & Diamonds along with the management team members and well-wishers.
With an area of 3500 and 3000 square feet respectively, the Kompally and Eluru showrooms offer superior shopping experience and exceptional design diversity with quality assurance and excellent after-sales customer service. Both the stores display an outstanding range of bridal jewellery, traditional jewellery, daily wear jewellery in gold, diamond and platinum, in addition to providing a safe and hygienic in-store environment to its customers while complying with all the safety protocols.
‘We would like to express our gratitude to our customers and stakeholders for their wholehearted support in the illustrious journey of Malabar Gold & Diamonds. With trained in-store staff and proactive management, the Eluru and Kompally stores will successfully replicate the service excellence for which the group is known globally’, said M.P Ahammed, Chairman, Malabar Group. The unparalleled design variety at the stores will also impress the customers. The expansion is a part of our strategy to emerge as the number one responsible jewellery retail brand in the world with respect to both showroom count and turnover. Our vision is to Make in India and sell it to the world. We are moving ahead with the goal of opening a new showroom every week, he added.
Malabar Group commits 5% percentage of its profit to support socially responsible purposes both in India and abroad, since its inception in 1993. Education, health, women empowerment, affordable housing and environmental protection are the focus areas for the Group.
Malabar Gold & Diamonds is the flagship company of Malabar Group, a leading diversified Indian business conglomerate.
Established in 1993 in the Indian state of Kerala, Malabar Gold & Diamonds today has a strong retail network of over 260 outlets spread across 10 countries, 14 wholesale units in addition to offices, design centers and factories spread across India, Middle East, Far East & USA. With an annual turnover of $4.51 billion, the company currently ranks one among the largest jewellery retailers globally.
With 14 cluster manufacturing units in India and GCC – the company currently has 12 jewellery brands to cater to the discerning needs of customers. With headquarters in Kerala and branches across India, Middle East, Far East and USA, Malabar Group is best known for its activities in the field of gold, diamonds, silver and lifestyle articles.
The group also operates MGD – Lifestyle Jewellery, a retail concept offering trendy and light weight jewellery that represents the independent and the modern woman through its designs and collections.
The group, owned by over 4,000 shareholders excels in quality products and services, has more than 13,000 professionals working for its continued success.
Malabar Gold & Diamonds also features an online store http://www.malabargoldanddiamonds.com providing customers the opportunity to purchase their favorite jewelry any time and on any day from the comfort of their home.
The group is always proactive when it comes to CSR initiatives right from its inception. The key focus areas of the CSR initiatives of Malabar Group are in the areas of Health, Education, Women Empowerment, Housing and Environment. The organization has kept aside 5% of its profit for enabling CSR activities in all the regions that they operate.