Mal­abar Gold & Di­a­monds inaugurates 100th store

VM&RD - - WASSUP! -

Mal­abar Gold & Di­a­monds, re­port­edly the world’s third largest jew­elry re­tailer, in­au­gu­rated its 100th store at Gold Souk Mall, Gur­gaon. The store was in­au­gu­rated by leg­endary crick­eter Kapil Dev. The com­pany with a strong net­work in In­dia and the GCC (Gulf Co­op­er­a­tion Coun­cil) and hav­ing a turnover of Rs. 22,000 crore will re­in­force its po­si­tion among the top jew­ellery brands in the world. Af­ter em­bark­ing on its am­bi­tious 4-year ex­pan­sion plan last year, Mal­abar Gold & Di­a­monds is also for­ay­ing into new mar­kets to drive growth. With its eyes set on the “Num­ber One” po­si­tion, the jeweler which has al­ready con­quered mar­kets in South In­dia and the Mid­dle East is now ex­pand­ing its pres­ence in North In­dian mar­kets with news stores com­ing up in Gur­gaon, Cal­cutta and Ahmed­abad. Dur­ing the launch of the new store in Gur­gaon, M.P. Ahammed, Chair­man, Mal­abar Group, spoke about the com­pany’s ex­pan­sion and di­ver­si­fi­ca­tion plans with a fo­cus on pulling in di­verse and ex­clu­sive clien­tele from across the globe. “We have chalked out a long-drawn strat­egy to at­tract more and more young men and women and widen our prod­uct of­fer­ings to a more global au­di­ence. The com­pany is em­body­ing a change to help scale greater heights and to serve dis­cern­ing cus­tomers bet­ter. As a step in this di­rec­tion, Pink Chic-the new mini bou­tique, Ev­er­after Wed­ding Bands & Va­lent- men’s brand will be launched dur­ing the 20th an­niver­sary celebration span. We are look­ing at a younger and more elite crowd which has a strong affin­ity to­wards the lat­est trends. This mar­ket is a ma­jor driver for growth in to­day’s in­dus­try and Mal­abar’s new avatar is all set to cre­ate a mark within this niche.” Adds M.P Ahammed, “The celebration is ded­i­cated to our cus­tomers as a thank you ges­ture for ap­pre­ci­at­ing our in­no­va­tions and pi­o­neer­ing ef­forts in jew­ellery re­tail for the last two decades. As part of this, we will be of­fer­ing cus­tomers’ ex­clu­sive priv­i­leges dur­ing the 21 day cel­e­bra­tions”. The com­pany is also look­ing to mark an en­try into South Asian mar­kets with plans of ex­pan­sion in Sin­ga­pore, Sri Lanka, In­done­sia, Malaysia and Bangkok, over the next few months

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