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- Plans to further speed up the expansion process in becoming the No: 1 jewellery retailer globally
- Immediate expansion plans into the UK, Bangladesh, Australia, Canada, Egypt, Turkey, and South Africa.
- Dallas store is the 300th global showroom of Malabar Gold & Diamonds |
DALLAS, TX, Feb 4, 2023 - (ACN Newswire) - The grand inauguration of the 300th global showroom of Malabar Gold & Diamonds, the 6th largest jewellery retailer globally with a strong retail network of 300 showrooms across 10 countries, was held in Dallas, USA.
Ms. Susan Fletcher, Collin County Commissioner and Mr. Jeff Cheney, Mayor of Frisco, Texas, jointly inaugurated the showroom in the presence of Mr. Shamlal Ahamed, Managing Director, International Operations. The event was virtually attended by Mr. M P Ahammed, Chairman, Malabar Group; Mr. KP Abdul Salam, Vice-Chairman, Malabar Group; Mr. O Asher, Managing Director, India Operations, other team members, well-wishers and dignitaries.
"It is a moment of great pride for us as we touch the 300th mark with this new showroom in Dallas, USA. We started off with a small showroom in Calicut, Kerala, India and today, in less than 30 years, we have a strong retail presence of 300 showrooms across 10 countries; all thanks to our customers, shareholders, employees and other stakeholders. We will continue to strengthen our retail presence in the regions where we have established a robust presence, as well as enter new markets with our differentiated products, services and assurances. The acceptance and patronage received by the brand gives us the confidence to further speed up the expansion process in becoming the No. 1 jewellery retailer globally," said Mr. MP Ahammed, Chairman, Malabar Group.
Malabar Gold & Diamonds currently operates in 10 countries and has immediate expansion plans into the UK, Bangladesh, Australia, Egypt, Canada, Turkey, South Africa. The future expansions are expected to create approximately 6,000 job opportunities in the retail, manufacturing, technical and management areas related to jewellery trade.
"Malabar Gold & Diamonds has played a vital role in making Indian jewellery more acceptable and trustworthy at the global level in recent years. We are now crafting unique experiences targeting the individual and specific preferences of our customers. As the design discovery and initial decision-making of most customers are happening online these days, we are focusing greatly on strengthening our omnichannel retail strategy, for which we are making use of the services of global technology giants like Microsoft, IBM, Accenture, E&Y, Deloitte etc..," said Mr. Abdul Salam KP, Vice Chairman, Malabar Group.
Malabar Gold & Diamonds is renowned globally for offering an unparalleled jewellery buying experience with convenience, and customer-friendly policies along with the 'Malabar Promise' of incomparable quality and service assurance. Malabar Promise includes assured lifetime maintenance from any of the showrooms across 10 countries, guaranteed buyback, IGI and GIA-certified diamonds ensuring 28-point quality check of global standards, zero deduction gold exchange, complete transparency, 916 hallmarked pure gold, responsible sourcing, fair price policy and fair labour practices.
"We are very excited about our future growth plan and will immediately be expanding into new markets, including the UK, Bangladesh, Australia and Canada, followed by Egypt, Turkey & South Africa. Apart from this, we will further strengthen our retail footprint within the existing markets as well. We constantly make efforts to evolve in line with the diverse preferences of our multicultural and multinational customers, as part of which we will focus further on product variety and a superior shopping experience, in addition to opening more stand-alone stores for local customers of the respective regions," said Mr. Shamlal Ahamed, Managing Director, International Operations, Malabar Gold & Diamonds.
The new showroom in Dallas has a stunning display of more than 30,000 jewellery designs from 20 countries across gold, diamonds, precious gems and platinum, catering to the design preferences of those residing in and around Dallas.
"We have an ambitious retail expansion plan in India as well, especially in the North and Central Indian states and are gearing up in a big way to enter new territories as well by setting higher standards in the jewellery trade. We understand the sensitivity of the industry and ensure compliance through responsible sourcing, ethical business practices, and transparent and professional fund management. Our association with trade bodies, financial houses, and government regulators help to ensure that our operations are infallible globally," said Mr. O Asher, Managing Director, India Operations, Malabar Gold & Diamonds.
"We will further strengthen our manufacturing capabilities to support our retail expansion drive globally. We will also be hiring skilled artisans and related staff as part of this process. This will also further bolster our mission, 'Make in India, Market to the World.' Keeping in line with the brand's outlook as a responsible jeweller, all our ongoing and upcoming facilities have and will be designed to provide safe and pleasant working conditions to the employees," said Mr. Nishad AK, Group Executive Director, Manufacturing & B2B, Malabar Group.
Malabar Group believes that the most successful companies are those which integrate responsibility and sustainability into their core business and commit 5% of their profit to support socially responsible purposes both in India and abroad, since its inception in 1993. Hunger, Health, Education, Women Empowerment, Housing and Environment are the key focus areas for the Group.
About Malabar Gold & Diamonds
Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a leading diversified Indian business conglomerate.
With an annual turnover of $4.1 billion, the company currently ranks as the 6th largest jewellery retailer globally and today has a strong retail network of 300 outlets spread across 10 countries in addition to multiple offices, design centers, wholesale units and factories spread across India, Middle East, Far East & USA. The group, owned by more than 4,000 shareholders, has more than 16,500 professionals from over 26 countries working towards its continued success. Malabar Gold & Diamonds also features an online store www.malabargoldanddiamonds.com providing customers the opportunity to purchase their favorite jewelry at any time and on any day from the comfort of their homes.
The group also operates MGD, Lifestyle Jewellery, a retail concept offering trendy and light weight jewellery that represents the independent and the modern woman through its designs and collections.
CSR has been the primary commitment of the group since its inception; integrating ESG (Environmental, Social & Governance) principles into the core business. The key CSR focus areas of Malabar Group are Hunger, Health, Education, Women Empowerment, Housing, and the Environment. The ESG goals of the organization are periodically strengthened by integrating responsibility and sustainability to remain a socially conscious and responsible organization. The group contributes 5% of its profit to such initiatives in the same country of operation.
Ganesh Somwanshi
ganesh@bloomingdalepr.com
Managing Director- APAC
Topic: Press release summary
Source: Malabar Gold & Diamonds
Sectors: Fashion & Apparel, Retail & eCommerce, Regional, Watches & Jewelry
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From the Asia Corporate News Network
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