Chennai: Malabar Gold & Diamonds has announced that it will launch nine stores across India and globally as a part of its global growth plan announced in 2018 that will see the company triple its retail network from 250 showrooms to 750 outlets. Malabar said it will invest Rs 240 crore.
The group currently operates retail outlets spread across ten countries in India, Middle East, Southeast Asia and America. Its expansion plan will see the company expand its footprint across all Tier 1 and Tier II cities in North and Central India – in order to cater to the growing jewellery market, said a statement.
“Internationally, the expansion will further strengthen its position in markets like Singapore, Malaysia, Oman and UAE,” it added.