Jeweller Malabar to expand in Asia, Gulf
In this article (5)
Indian retailer Malabar Gold and Diamonds says it will open 22 new stores in India, the Gulf and ‘the Far East’ over the next six months.
New showrooms will be opened in Hong Kong and Indonesia as part of the plan, but there are no details as yet on timing or exact location.
To help stock the expanded store network – 155 after the openings – a new gold processing unit will be opened in Dubai and a diamond processing facility in Mumbai.
“The new showrooms will be opened in major cities across India, the Gulf region and the Far East in next six months,” Malabar group chairman M P Ahammed said in a statement.
The rollout is a further step towards Malabar’s goal of reaching 300 stores by 2020.
“In response to the government’s ‘Make in India’ initiative, we are setting up new processing units at Kinfra industrial park in Kerala and at other industrial parks in Andhra Pradesh, Gujarat and West Bengal,” Ahammed said.
“We are also building an advanced gold manufacturing unit on a five-acre land in Dubai with the support of the UAE government.
“As more Indians are buying diamond jewellery due to changing lifestyle, higher disposable incomes and for being trendy, the diamond processing unit will be in Mumbai, which is a major centre for diamonds business,” Ahammad said.
The group’s retail network is already spread across nine countries, including Bahrain, Kuwait, Oman, Malaysia and Singapore.
Questions & Answers
Q.Which specific countries or cities in the Gulf region will see new Malabar stores open?
Which specific countries or cities in the Gulf region will see new Malabar stores open?
The article states new showrooms will open in major cities across the Gulf region, but it does not specify any particular countries or cities within that region.
Q.By what date does Malabar aim to reach a total of 300 stores?
By what date does Malabar aim to reach a total of 300 stores?
Malabar has set a goal of reaching 300 stores by the year 2020. The current expansion is a step towards this target.
Q.What is the primary reason Malabar is establishing a new diamond processing unit in Mumbai?
What is the primary reason Malabar is establishing a new diamond processing unit in Mumbai?
The diamond processing unit in Mumbai is being set up due to more Indians buying diamond jewellery, influenced by changing lifestyles, higher disposable incomes, and the trendiness of diamonds.
Q.In which Indian states will new gold processing units be established?
In which Indian states will new gold processing units be established?
New gold processing units will be set up in Kinfra industrial park in Kerala, and at other industrial parks in Andhra Pradesh, Gujarat, and West Bengal.
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