Malabar Gold to invest Rs 7,000 on expansion, enter new markets

By

Maverick Martins

Published
Oct 25, 2018

India’s largest jewellery retailer Malabar Gold and Diamonds has planned massive global expansion over the next five years earmarking an investment of Rs 7,000 crore (approx $960 million) to reach 750 outlets.

The Kerala-based jeweller is looking to expand its domestic presence and also will be entering new international markets. It has set a revenue target of $6.85 billion (Rs 50,000 crore) by 2023 out of which 40 percent is expected to come from international markets.
 
"We have a global growth plan that will see the company triple its retail network from 250 showrooms this year to 750 outlets in the next five years with the Group turnover to $6.85 billion (Rs 50,000 crore) by 2023," Malabar Group chairman Ahammed MP was quoted as saying by PTI.

“The company also plans to invest $960 million (Rs 7,000 crore) to manage the growth and expansion mainly through franchisee model,” he added.
 
The funds for expansion will be raised through bank loans and from its existing investors.
 
In India, Malabar will expand its retail presence in tier I, tier II cities in the north and central India. The company is also looking to enter international markets like Bangladesh, Sri Lanka, Australia, Canada, Egypt, and Turkey.
 
Malabar Group has over 250 stores in India and abroad, making it one of the top five players in the world. The Malabar Group currently operates retail outlets spread across ten countries in India, Middle East, Southeast Asia, and America.