Having completed 25 years of existence, Malabar Gold and Diamonds has set an ambitious global growth plan to triple its retail network from 250 showrooms this year to 750 outlets in the next five years. The annual turnover will exceed Rs 45,000 crores by then. Its massive expansion plan will see the company expand its footprint across all tier 1 and tier II cities in North and Central India—in order to cater to the growing jewellery market.
The group’s plan of major expansion in international market includes new territories such as Bangladesh, Sri Lanka, Australia, Canada, Egypt and Turkey. As much as 40 per cent of the group turnover will be generated from the company’s operations outside India.
“Our ambitious retail expansion plan in North and Central Indian states like Punjab, Maharashtra, Delhi and Madhya Pradesh will be supported by a new set of investors from these regions,” said Asher O, managing director, India operations.