Malabar Gold & Diamonds opens its new base in Dubai Gold Souq
KUWAIT: Malabar Gold & Diamonds, the 6th largest jewelry retailer globally with an extensive retail network of over 310 outlets across 10 countries in India, the GCC, Far East and the USA, has unveiled its brand-new global base of international operations, the Malabar International Hub (M-IH) at Dubai Gold Souq in Deira, Dubai. M-IH was inaugurated by Abdulla Bin Touq Al-Marri, cabinet member and UAE minister of economy on March 22. The inauguration was conducted in the presence of chairman, directors, government officials, distinguished guests, well-wishers, and management team members of Malabar Gold & Diamonds.
Celebrating its 30th year anniversary, the opening of M-IH marks a momentous landmark for Malabar Gold & Diamonds, which began its international operations in 2008 from the UAE. The 28,000 sq ft LEED gold certified hub, that is located in the heart of Dubai’s gold district has been designed to be the epicenter of the brand’s current and future business aspirations. Spread across four floors, houses all functions, from a global centralized supply chain to all enabling and supporting functions for existing operations in GCC, USA, Singapore, Malaysia; and set the foundation for the growth aspirations of the group to continue its ambitious expansion plans into countries such as the UK, Australia, Canada, Turkey, Bangladesh, New Zealand and many more.
Malabar Gold & Diamonds opting to base their entire international operations out of the UAE highlights the prestigious position of the UAE as one of the most preferred trade destinations for global companies.
Malabar Group Chairman M P Ahammed commented, “With the establishment of M-IH in Dubai, Malabar Gold & Diamonds has taken one step closer to our dream of being the biggest jewelry retailer in the world. The new facility is all set to be the stepping stone of our Vision 2030 goal of scaling up our operations to conquer new markets and strengthen our presence in existing markets. As we celebrate 30 years of providing exemplary jewelry shopping experience to our loyal customers across the world, our dedication towards quality, perfection and service has propelled us to the position of world’s most trusted jewelry retailer. I would like to take this opportunity to express my immense gratitude to our stakeholders - customers, employees, associates, shareholders, and authorities who stood with us through thick and thin and contributed towards propelling the brand to new heights,” he said.
Speaking on the occasion, Shamlal Ahamed, managing director, international operations, Malabar Gold & Diamonds said, “The launch of Malabar International Hub is indeed a historic occasion for Malabar Gold & Diamonds. It is also a moment of added pride and joy that this inauguration coincided with our brand’s 30th anniversary. It has always been our experience that the UAE provides one of the best ecosystems for a business to flourish and this has only been strengthened manifold by the signing of CEPA between India and the UAE. The removal of import duty through the CEPA will help us in using that to add new international markets as well as improve our retail presence in current markets such as the US. With the opening of our new global base in the UAE, all our existing international operations including the US and Far East will be managed from Dubai. Considering the instrumental role that our chief guest, Abdulla Bin Touq Al-Marri and his team played in getting the historic agreement implemented, it was both a symbolic and auspicious gesture to have him open the doors of our new global hub for us.”
“The state-of-the-art facility has been designed considering the needs and requirements of all the various elements that keep our operations afloat, with special consideration given to the comfort of our employees.We earnestly look forward to closely working with the UAE government and other key stakeholders to further our reach in the international jewelry trade and thereby be a key partner in enhancing Dubai’s status as the City of Gold”, said Abdul Salam K P, vice chairman of Malabar Group.
In strict adherence to Malabar Gold & Diamonds’ commitment towards ESG (environmental, social & governance) guidelines, various environmental and sustainable initiatives have been incorporated in the building’s designs and the facility is in the process of getting its LEED GOLD certification.