Malabar Gold expands retail presence with store in Hyderabad
Jewellery retail chain Malabar Gold & Diamonds has strengthened its retail presence in south India with the launch of its first store in the Charminar area of Hyderabad.
The store is located in Shahalibanda, Charminar and spread across 8,100 square feet housing the latest collections and sub-brands from Malabar like Mine, Era, Divine, Ethnix, Precia, Zoul among many others.
The expansion is part of Malabar Gold's Rs 800 crore ($107 million) global expansion plan in which it plans to open over 20 new showrooms in the financial year with an aim to become the world’s leading jewellery brand.
Commenting on the expansion, Malabar Group chairman M P Ahammed in a statement said, “We are delighted to launch our newest store. With every new store launch, we aim to be more accessible to our customers and cater to their every need. Our goal is to become the leading jewellery retail brand in the world in terms of both showroom count and sales.”
Malabar Gold and Diamonds reported a 35% growth in revenue at Rs 30,000 crore for the fiscal year 2021-22, as against the previous year's business.
Malabar Gold & Diamonds has a robust retail presence with more than 280 showrooms in 10 countries across the globe. In addition, the group has 14 wholesale units and 14 jewellery making units in India and abroad.
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