Malabar Gold to enter Bihar, plans to triple showrooms in five years across India
Kerala-based Malabar Gold and Diamonds has announced its entry in Bihar, as it looks to strengthen its retail presence by opening new stores across the country, despite the Covid-19 disruptions.
The company plans to triple its store count over the next five years, and begin its expansion by opening a new store in Patna virtually on September 19.
The new store is spread across an area of 5500 square feet and will be inaugurated virtually by the company’s brand ambassador Bollywood actor, Anil Kapoor.
“The store in Patna will help us further expand our presence in eastern India. The retail expansion is part of the company's plan to become the no. 1 gold retail brand in the world, in terms of both showroom count and sales. So, we have planned to triple the number of showrooms in the next five years," Malabar Group chairman, M P Ahammed said, in a statement.
Malabar Gold had 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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