• Part of the brand's expansion plan to launch 56 stores globally in the FY21-22
Malabar Gold & Diamonds, one among the largest jewellery retailers globally with a strong retail network of over 260 outlets spread across 10 countries, inaugurated 2 new showrooms in Eluru, Andhra Pradesh and Kompally, Hyderabad, Telangana, India. This is part of the brand's expansion plan to launch 56 stores globally, 40 across India and 16 internationally in the FY21-22 to further boost its retail presence across the country, with an overall investment of USD 220 Million and generation of 5000 new jobs.
Eluru showroom is the 13th store of Malabar Gold & Diamonds in Andhra Pradesh and was virtually inaugurated by Mr. M.P. Ahammed, Chairman, Malabar Group. Ms. Shaik Nurjahan, Ex. Mayor of Eluru and Chief Guest of the inauguration event did the ribbon-cutting and opened the showroom for customers.
Kompally store, the 10th outlet of Malabar Gold & Diamonds in Hyderabad was also virtually inaugurated by Mr. M.P. Ahammed, Chairman, Malabar Group. Mr. K P Vivekananda, MLA, Quthbullapur constituency and Chief Guest of the inauguration event did the ribbon cutting opened the showroom for customers. Both the stores were inaugurated in the presence of key Malabar Gold & Diamonds dignitaries including Dr. P.A. Ibrahim Haji, Co Chairman, Malabar Group; Mr. K.P. Abdul Salam, Vice Chairman, Malabar Group; Mr. O Asher, Managing Director - India Operations, Malabar Gold and Diamonds and Mr. Shamlal Ahamed, Managing Director - International Operations, Malabar Gold & Diamonds along with the management team members and well-wishers.
With an area of 3500 and 3000 square feet respectively, the Kompally and Eluru showrooms offer superior shopping experience and exceptional design diversity with quality assurance and excellent after-sales customer service. Both the stores display an outstanding range of bridal jewellery, traditional jewellery, daily wear jewellery in gold, diamond and platinum, in addition to providing a safe and hygienic in-store environment to its customers while complying with all the safety protocols.
‘We would like to express our gratitude to our customers and stakeholders for their wholehearted support in the illustrious journey of Malabar Gold & Diamonds. With trained in-store staff and proactive management, the Eluru and Kompally stores will successfully replicate the service excellence for which the group is known globally', said M.P Ahammed, Chairman, Malabar Group. The unparalleled design variety at the stores will also impress the customers. The expansion is a part of our strategy to emerge as the number one responsible jewellery retail brand in the world with respect to both showroom count and turnover. Our vision is to Make in India and sell it to the world. We are moving ahead with the goal of opening a new showroom every week, he added.
Malabar Group commits 5% percentage of its profit to support socially responsible purposes both in India and abroad, since its inception in 1993. Education, health, women empowerment, affordable housing and environmental protection are the focus areas for the Group.