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Malabar Gold & Diamonds, the country’s largest jewellery retailer, is to open another 61 showrooms this year across 10 countries, including the US. This will increase the total showrooms to 257 by December.
Of the total, the retailer will inaugurate 11 showrooms across six countries on Friday.
“We will be expanding into new horizons, marking our presence in countries such as the US, Sri Lanka, Brunei and Bangladesh,” said Malabar Gold Managing Director of International Operations Shamlal Ahammed said in a statement.
Following the opening of these 11 outlets, the Kerala-headquartered company’s showrooms would rise to 208 globally . However, the investment for the expansion plans was not disclosed.
The showrooms will be opened across malls in the UAE (Qatar and Oman), Singapore, Malaysia, and Warangal in Telangana.
“We are getting wide acceptance in the global market place. This is the major reason for expanding our global presence,” said Malabar Group Chairman MP Ahammed.
“In 2018, we will be opening more showrooms as well as manufacturing units. This will fuel our vision to become the top jewellery retailer in the world,” he added.
“The group is planning to set up more showrooms as well as manufacturing units in the country, eventually generating more employment opportunities and enhancing initiatives like the Centre’s Make in India ,” said O Asher, Managing Director, India Operations at Malabar Gold.
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