Malabar Gold strengthens presence in Middle East with new store in Dubai
Malabar Gold & Diamonds has strengthened its retail presence in the Middle East with the opening of a new store in Dubai, UAE.
The store is located in Grand City Mall, Al Quoz and offers a wide collection of traditional, as well as contemporary jewellery, alongside diamonds, and precious gems jewellery.
The opening of this store is part of the group’s plan to expand its retail network across International and Indian markets.
Commenting on the expansion, Shamlal Ahamed, managing director international operations at Malabar Gold & Diamonds, in a statement said: “This opening demonstrates our renewed confidence in the market and is a part of the investment plan to further strengthen our presence across the major markets we operate in. The new showroom will give our customers a unique shopping experience while ensuring the core values of transparency and quality across all customer touch points.”
Malabar Gold has earmarked an investment of Rs 240 crore ($32.3 million) to strengthen its presence in the Indian and international markets like Singapore, Malaysia, Oman, and the UAE.
Malabar Gold reported revenue of $4.51 billion in 2018-19. The company currently owns and operates more than 260 showrooms across ten countries.
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