2024-04-08 20:30:00
09 April 2024, 02:00 AM IST .
Kochi: Kerala-based Malabar Gold and Diamonds (India and International) achieved a global turnover of Rs 51,218 crore last financial year. 23 percent growth compared to previous year. A jewelery brand from Kerala achieved this feat globally in just three decades. Malabar is the 6th largest jewelery group in the world and is ranked 19th in global luxury goods ranking by global consultancy firm Deloitte.
An extensive retail expansion plan has been devised with the aim of becoming the global leader. As part of this, 100 new showrooms will be opened in India and foreign countries within a year, Malabar Gold and Diamonds Chairman M.P. Ahmed told ‘Mathrubhumi’.
For this, the plan is to hire 7,000 additional employees. With this, the total number of employees will increase to 28,000. Malabar Group currently has around 21,000 employees from 26 countries. Currently, Malabar Gold and Diamonds has 345 showrooms in 13 countries.
Apart from India, there will be new showrooms in New Zealand, Egypt and Bangladesh and expansion to more places in Europe. Ahmed said.
He also stated that the group’s showrooms will be opened in more locations in the countries where it is currently present such as the US, Canada, the UK and Australia.
Malabar Gold and Diamonds has 14 supply chain management units in eight countries, 15 jewelery manufacturing units in five countries, design studios, twenty-five exclusive brand collections and one and a half crore customers from 100 countries.
In addition to opening more showrooms in the states where it is currently present in India, M.P. will also expand operations to states like Jharkhand, Goa, Assam, Tripura, Jammu and Kashmir. Ahmed clarified.
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