Malabar Gold strengthens retail presence with first store in Odisha
Malabar Gold and Diamonds, one of the largest jewellery retail chains in the country, has strengthened its retail presence with the launch of its first showroom in the state of Odisha.
The new store has an area of 6736 square feet and is located at Rupali Square, Saheed Nagar in the city of Bhubaneswar.
The Bhubaneswar store will house a wide range of bridal jewellery, traditional jewellery, daily wear jewellery in gold, diamond, and platinum along with hand-picked designs from the popular sub-brands of Malabar Gold such as Mine, Era, Divine, Ethnix, Precia, Zoul, and Starlet.
Commenting on the expansion, Malabar Group chairman, MP Ahammed, in a statement said: “We are delighted to expand our journey to the vibrant city of Bhubaneswar in Odisha which is known for its rich cultural heritage. The launch of the store is an integral part of our strategy to become the number one gold jewellery retail brand in the world in terms of both showroom count and sales.”
Malabar Gold and Diamonds is planning to invest Rs 240 crore ($32.3 million) to strengthen its presence in the Indian and international markets, amid the Covid-19 pandemic. The company currently owns and operates more than 260 showrooms across ten countries.
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