As part of its global expansion plans for 2022, Malabar Gold and Diamonds will open 22 new showrooms in the Gulf, South-east Asia and India this month.
This move will firmly place the company on the path to becoming the largest retail jewellery chain in the world.
Twelve new showrooms will open in the Gulf and South-east Asia and 10 in India, where the brand is rapidly gaining acceptance in smaller towns.
The massive expansion drive began with the launch of the Artistry concept store at M.G. Road in Bengaluru on Jan 8, followed by the inauguration of a showroom in Solapur in Maharashtra on Jan 9.
Showrooms were also opened in Siddipet in Telangana and Mydin Mall in Seremban, Malaysia, on Jan 13 and Tiruppur in Tamil Nadu on Jan 14.
On Thursday, the Indian jewellery retailer opened an outlet in Penang. Bengaluru's HSR Layout will get a new showroom today, along with Varanasi in Uttar Pradesh, Landmark Shopping Mall at Gharafa in Qatar, Al-Khoud and Mall of Oman in Muscat.
Malabar will open more showrooms in Raipur, Chhattisgarh, on Jan 27, Hadapsar in Pune on Jan 28, City Centre Al-Zahia in Sharjah, Three Showrooms in Dubai Gold Souk, Crown Mall Jebel Ali in Dubai and Lulu Muweilah Hypermarket in Sharjah on Jan 29, Gurugram in Haryana and Preet Vihar in Delhi on Jan 30.
The group will invest a total of US$107.5 million ($145 million) on these new outlets.
Malabar Gold and Diamonds is targeting to open 750 stores and become the No. 1 gold retailer in the world.
"This expansion programme will create about 5,000 jobs in the retail, manufacturing, technical and management areas related to jewellery trade," said Malabar Group chairman M.P. Ahammed.
"In 28 years of our illustrious journey, Malabar Gold and Diamonds has grown from strength to strength. We will continue to strengthen our retail presence in the regions where we have established a robust presence and also enter new markets with our differentiated services and products.
"With the launch of 22 showrooms in January, we are all set to make an impactful beginning to the new year. We are confident that our customers will enjoy the world-class jewellery shopping experience at all our new showrooms and also appreciate our values based on transparency, trust, quality and service.
"Our mission is to make in India and market to the world. Our commitment is to highlight further the brand value of Indian jewellery at the international level and create more job opportunities in the manufacturing sector domestically."