M P Ahammed, Chairman of Malabar Group.
Malabar Gold & Diamonds, one of the world’s largest jewellery retailers, is set to expand its retail footprint from its current 250 showrooms to 750 outlets in the next five years. By tripling its retail network, the jewellery giant is targeting an annual turnover exceeding $6.16bn (INR45,000 Cr) and the Group turnover to $6.85bn (INR50,000 Cr) by 2023.
The company has plans to invest $960m (INR 7,000 Cr) to manage the growth and expansion.
“Silver Jubilee is a major milestone in any company’s history and during this time Malabar Group grew from a local entity to an Indian International brand with a large loyal customer base. “Today, Malabar is a name to reckon with and known to almost every consumer. During the last 25 years, Malabar Gold & Diamonds has grown from strength to strength and rose from being a small outfit to an international player across a number of verticals including gold and diamond jewellery retail, jewellery manufacturing and multi-retail concepts,” the Chairman said.
The Indian-born International jewellery brand, which expanded its footprint to the US as 10th country recently, has plans to extend operations to Bangladesh, Sri Lanka, Australia, Canada, Egypt and Turkey in the coming years.
“We currently operate retail outlets spread across ten countries in the India, Middle East, Southeast Asia and America. Its massive expansion plan will see the company expand its footprint across all Tier 1 and Tier II cities in North and Central India – in order to cater to the growing jewellery market. The company’s plan of major expansion in international market includes new territories. As much as 40 percent of the group turnover will be generated from the company’s operations outside India,” the Chairman said. “UK and the Far East Asian markets like Malaysia and Indonesia are among other markets we are seeing huge opportunities”, Ahammed added.
Abdul Salam K P, Executive Director of Malabar Group.
Malabar Gold & Diamonds is hugely bullish on Qatar. The country is fast emerging as one of the best foreign investment destinations, with its latest reforms in commercial laws. Currently, Malabar Gold & Diamonds has six major retail outlets in Qatar, in addition to the Company’s trendy state-of-the-art Kiosks. This new concept is a smaller format store offering daily wear small-ticket jewellery and lifestyle articles. “We have plans to open more similar outlets in all major shopping Malls in Qatar. To mark Qatar’s National Day, Malabar Gold & Diamonds will release a special Qatar National Day pendant”, the Chairman said.
Malabar Gold & Diamonds is the jewellery retail arm of the diversified business conglomerate Malabar Group that includes other business verticals such as real estate developments, shopping malls, hypermarket, technologies, retailing of home appliances & electronics, watches, franchisee retailing and services.
The new expansion will see Malabar Group nearly double its headcount from 13,000 to 25,000 professionals on direct payroll within the next five years to manage the growth and expansion.
Abdul Salam KP, Executive Director of Malabar Group, said, “As a responsible business, we are very mindful of our obligations to our societies. Our expansion will create more well-paid jobs and we are very excited about our future growth plan. We ensure our entire operation in a very transparent way. We understand the sensitivity of the industry and ensure compliance through responsible sourcing, ethical business practices, transparent and professional fund management. We associate with trade bodies, financial houses, government regulators to make sure that our operations are infallible globally.
Asher O, Managing Director — India operations, said, “Our ambitious retail expansion plan in North and Central Indian states like Punjab, Maharashtra, Delhi, Madhya Pradesh, etc will be supported by a new set of investors from these regions. We will also continue to strengthen our retail foot print in the states where we currently have strong presence. Our unique business model of sharing and caring has worked for us very well and it makes us a transparent and accountable organisation with a solid foundation where all investors have a financial and moral stake in the company. We want our North and Central Indian brothers also to join the movement and share our success.”
Shamlal Ahamed, Managing Director of Malabar Gold & Diamonds’ International Operations.
Shamlal Ahamed, Managing Director of Malabar Gold & Diamonds’ International Operations, said, “As an Indian-born international jewellery brand, we take pride in our roots in India and help connect the global consumers to the Indian heritage and art. Our strong retail presence across 10 countries coupled with the jewellery manufacturing capabilities that mostly produce Indian culture-inspired designs that are exported to the rest of the world through our international retail network. Our further expansion in the international arena will lead to Indian artisanal jewellery being showcased at prominent global destinations.” The group has earmarked 5 percent of its annual profit for CSR activities in five key areas such as housing, health, environment, women empowerment and education.
The group recently opened its new global headquarters at Montana Estate in Kozhikode City of Southern Indian state Kerala. Montana Estate has been set up at a sprawling 150-acre green tract as an eco-friendly township with signature bungalows, villas and apartments, international school, convention centre, organic farming, mini theatres, business clubs, etc.
