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Malabar Gold & Diamonds unveils 400th showroom, aims for Rs 78,000 cr turnover
With a current turnover of Rs 63,000 crore and presence in 13 countries, the brand is targeting an exponential increase in revenue to Rs 78,000 crores and to open 60 showrooms expanding its presence to 15 countries and 22 States and 3 Union Territories in India in the current FY.
The brand has plans to expand its global workforce to nearly 27,250 management team members.
Malabar Gold & Diamonds has launched its 400th showroom at sector 18, Noida. As per the company, the launch of Malabar’s 400th showroom is part of a broader, ambitious growth strategy aimed at deepening Malabar’s presence across India and globally. With a current turnover of Rs 63,000 crore and presence in 13 countries, the brand is targeting an exponential increase in revenue to Rs 78,000 crores and to open 60 showrooms expanding its presence to 15 countries and 22 States and 3 Union Territories in India in the current FY.
Further, it has plans to expand its global workforce to nearly 27,250 management team members. M.P. Ahammed, Chairman of Malabar Group, stated, “This milestone is a testament to our growth ambitions and marks a significant step in our ever-expanding footprint across India and globally. We have a comprehensive business strategy in place targeting expanding with 60 new showrooms and manufacturing units, aiming for a turnover of Rs 78,000 crores in the current financial year, and committing an investment of over Rs 5,000 crores to drive growth.”
“Our expansion will create additional 3,500 direct employment opportunities, in addition to supporting the large jewellery manufacturing ecosystem. Our operations are built on a foundation of complete transparency and strict compliance in addition to collaborating with trade bodies, financial houses, government regulators to make sure that our global operations are robust, trustworthy, and beyond reproach,” commented Abdul Salam KP, Vice-Chairman of Malabar Group.
Adding to this, Asher O, Managing Director – India Operations, Malabar Gold & Diamonds, said, “Malabar Gold & Diamonds is making great strides across India, which remains our biggest market and opportunity, and we have clear plans in place to continue the growth momentum. We will be strengthening our presence within existing and new states and union territories reaching a total of 22 States and 3 Union Territories by end of this financial year.”
With a presence in 13 countries and a team of over 25,000 professionals, Malabar Gold & Diamonds serves more than 15 million customers annually. The brand offers over 1,00,000 jewellery designs with exclusive jewellery collections and continues to expand its global footprint with a strong focus on quality, design, and customer satisfaction.
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