Malabar Gold to expand retail footprint with 12 new stores in March

Malabar Gold & Diamonds plans to strengthen its retail footprint by opening 12 new stores before the end of financial year 2024-25.

The company has earmarked an investment of Rs 600 crore for its store expansion. The new showrooms will be located at Mumbai, Pune, Odisha, Jharkhand, Karnataka, Andhra Pradesh, and Uttar Pradesh.

The company plans to open 60 new showrooms in 2025 which includes 5 new global showrooms in the Middle East, the UK, and Canada.

Commenting on the expansion, MP Ahammed, chairman of Malabar Group in a statement said, “Our expansion plan is aligned with our broader vision of extending our global footprint and offering quality-focused, transparent retail practices coupled with a world-class shopping experience to more people across the world.”

“As we continue to grow and enter new markets, each showroom opening represents a step closer to realizing our vision of becoming the world’s number one jewellery and luxury brand,” he added.

Malabar Gold is one of the leading jewellery retailers from India with 391 showrooms across 13 countries.