Malabar Gold & Diamonds, the 6th largest jewelry retailer globally, has announced plans to open 20 new showrooms in the month of October. The expansion will cover various locations in India, the GCC, and the USA, further solidifying the brand’s position as one of the world’s largest and most trusted jewelry retail chains. This move marks a significant milestone in the brand’s growth journey.
The expansion plan in India includes new showrooms in multiple states, while internationally, new showrooms will be opened in the UAE, Qatar, Saudi Arabia, and North America. The brand aims to cater to a wider audience and strengthen its presence in both existing and emerging markets. The Chairman of Malabar Group, M.P Ahammed, highlighted the importance of sustainable growth and social responsibility, with a percentage of profits allocated to ESG initiatives in every region of operation.
Each new showroom will offer a diverse range of jewelry collections, from traditional to contemporary designs, to provide customers with an immersive shopping experience. The focus is on ensuring customer comfort and satisfaction through amenities like customized jewelry designing facilities and luxurious lounge areas. The Managing Director of International Operations at Malabar Gold & Diamonds emphasized the brand’s commitment to delivering not just jewelry but a delightful and inspiring shopping experience.
The Managing Director of India Operations highlighted the immense potential of the Indian market, especially with the recent reduction in gold import duties by the government. The brand aims to cater to the rising demand for gold jewelry in India, offering a wide array of meticulously crafted designs that resonate with the country’s rich cultural heritage. Malabar Gold & Diamonds plans to leverage its expansion to strengthen its presence in the Indian market.
In addition to the 20 showrooms set to open in October, Malabar Gold & Diamonds has broader expansion plans in the pipeline, including entry into new markets such as South Africa, Egypt, Turkey, Bangladesh, France, and New Zealand. The brand is also diversifying its product line with specific value chains for different markets, focusing on 21K and 18K jewelry. By integrating omni-channel capabilities, the brand is embracing technology to adapt to the changing landscape of the jewelry industry.
The ESG initiative has been a core commitment of Malabar Group since its inception in 1993, with a portion of profits dedicated to initiatives in areas like health, education, women empowerment, and the environment. The organization continually strengthens its ESG goals to remain socially conscious and responsible. By balancing growth with social and environmental responsibilities, Malabar Gold & Diamonds is on track to achieve its vision of becoming the world’s top jewelry retailer.
