The Hindu Business Line : Malabar Gold beefing up presence in South

Bangalore, Sept. 10 Kozhikode-based jewellery retailer Malabar Gold, as part of its retail expansion strategy, is looking to strengthen itself in South India before moving to the North and abroad.

Currently, Malabar Gold has 16 showrooms in the South across cities such as Kochi, Kozhikode, Palghat, Hyderabad and Bangalore. Brand ambassador and film actor Hema Malini is set to inaugurate its 17th store on Wednesday in Jayanagar, Bangalore (this will be the city’s second store).

This year, there will be 20 showrooms in South India; and in 2008, the Rs 1,000-crore company (which is part of the Malabar Group of Companies) plans to open 12 more showrooms. Plans are on to expand into cities and towns such as Coimbatore, Chennai, Mysore and Erode. After consolidating itself in the South, the company plans to enter North India and the Gulf region (Dubai, Qatar, Kuwait and Muscat). “We will be investing Rs 500 crore in the next two years,” said Mr M.P. Ahamed, Chairman, Malabar Gold.

The 7,000-sq feet store in Jayanagar, Bangalore will showcase gold and bridal jewellery (with designs from Kerala, Karnataka, Tamil Nadu and West Bengal, and also from abroad - Italy, Singapore and Bahrain). It will also feature international premium watch brands such as Tissot, Esprit, Citizen, Police and Seiko.

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