Malabar Gold, the flagship division of Rs 800 crore Malabar Group of Companies, will invest Rs 200 crore to expand its golden footprint in South India and abroad. “There will be more than 20 outlets operational across the South by the end of this calendar year,” a company spokesperson told Indiaretailing.com. The Kerala-based company recently opened its largest outlet in Kochi, which is spread across 10,000 square feet.
The company, which runs 14 outlets across South including in Karnataka, Andhra Pradesh and Kerala, plans to roll out new stores in tier I and II cities like Bangalore, Chennai, Mysore, Coimbatore, Thiruvananthapuram, Kollam, Kottayam, Kodungallur, Edapally, Kasargod and Kanjangad, by the end of this fiscal.
Also, the company will soon enter the international arena with its first international jewellery boutique in Dubai Gold Souk. “We have already set up an office in the Middle East and will soon foray into the market,” the spokesperson informed. Further, the group will open five new shops in different parts of West Asia including Saudi Arabia, Kuwait, Qatar and Bahrain.
The Kerala-based group operates malls in Kozhikode and Palakkad in Kerala. Its other activities include construction, leasing of commercial complexes, real estate, luxury hotels and distribution of watches. It is even learnt that Pantaloons is running its Big Bazaar store in the Malabar Group’s commercial complex in Thiruvananthapuram. Not only that, Pantaloons may even set up a shop in the Malabar Gold Mall, which is undergoing the finishing work at Pazhvangadi in Thiruvananthapuram.