Malabar Gold strengthens retail presence with store in Hyderabad

By

Maverick Martins

Published
Jun 25, 2021

Leading jewellery retail chain Malabar Gold and Diamonds has strengthened its retail presence with the opening of its tenth store in the city of Hyderabad.
 

The store is located at Kompally and spread over an area of 3,500 square feet. Malabar Gold has seen strong growth in the Hyderabad market over the years and expects the expansion to further fuel its growth.
 
Commenting on the expansion, Malabar group chairman, MP Ahammed, in a statement said: “Being our tenth store in Hyderabad, it will not only strengthen our presence in the city known for its vibrant cultural legacy but also will offer a unique jewellery buying experience to the people of Kompally with unparalleled design finesse, quality and service excellence.”

O Asher, managing director of India operations, added: “Our Kompally store launch is a part of our strategy to expand our presence in this growing market.”
 
Despite the Covid-19 disruptions, Malabar Gold has earmarked an investment of Rs 1,600 crore ($220.4 million) to strengthen its domestic and international presence in the financial year 2022. The company plans to open 40 outlets across India and 16 internationally to further boost its retail presence across the globe.