Malabar Gold & Diamonds (MGD), the world’s sixth-largest jewelry retailer, will open 20 new showrooms in October across India, the GCC, and the United States.
This expansion adds to the company’s existing network of over 355 showrooms in 13 countries.
In India, MGD will launch showrooms in Uttar Pradesh, Delhi, Maharashtra, Karnataka, Rajasthan, Odisha, Telangana, West Bengal, and Punjab.
New locations will be opened in Sharjah, Qatar, and Saudi Arabia in the GCC region. In North America, MGD will open showrooms in Los Angeles and Atlanta.
Malabar Group Chairman M. P. Ahammed stated that the expansion is part of the company’s goal to become the world’s leading jewelry retailer while focusing on sustainable growth.
MGD recently received the India Gold Conference (IGC) Responsible Jewellery House Award for 2023-24.
Shamlal Ahamed, Managing Director of International Operations, described the expansion as a reflection of MGD’s growth strategy. Asher O, Managing Director of India Operations, noted that reduced gold import duties in India are expected to boost demand for gold jewelry. MGD is prepared to meet this demand.
Vice Chairman Abdul Salam K. P. also mentioned plans for further expansion into South Africa, Egypt, Turkey, Bangladesh, France, and New Zealand and diversification of the product line.
Since its founding in 1993, MGD has allocated 5% of its net profits to Environmental, Social, and Governance (ESG) initiatives, focusing on issues like hunger, health, housing, education, and women’s empowerment.
