Post expansion, the country’s jewellery major will have a network of 155 outlets
Malabar Gold & Diamonds logo
Kochi: Malabar Gold & Diamonds has decided to open 22 new showrooms in India, the Gulf and the Far East in the next six months, to celebrate its 22nd anniversary.
Post expansion, the country’s jewellery major will have a network of 155 outlets. This move is a part of the company’s plans to have 300 outlets by 2020.
Malabar Gold & Diamonds is currently among the top five jewellery retailers worldwide with an annual turnover of Rs 26,000 crore, with an output of around 12,000 kg gold. In line with the Prime Minister Narendra Modi’s “Make in India” plan, the group said it plans to expand its manufacturing facilities at the KINFRA industrial park in Kerala and also at the industrial parks in various states like West Bengal, Gujarat and Andhra Pradesh by hiring around 5,000 skilled workers.
“With gold prices remaining low, we see a strong buyer and investor interest for the yellow metal and diamonds,” said Mr M.P. Ahammed, the chairman of Malabar Group. This fiscal, the company is planning to export Rs 2,000 crores worth gold jewellery.
( Source : agencies )
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