Malabar Gold & Diamonds also plans to open stores in the UK, Bangladesh, Australia, Egypt, Canada, Turkey and South Africa
Mumbai: Malabar Gold & Diamonds, a Kerala-based chain of gold and diamond stores, has launched its 300th global showroom in Dallas, Texas in the US. Located at Preston Road, this is the third showroom of the company in the US.
Commenting on the launch, MP Ahammed, chairman, Malabar Group, said, “It is a moment of great pride for us as we touch the 300th mark with this new showroom in Dallas. We would like to thank our customers, shareholders, employees and other stakeholders for their continued support. We will further strengthen our retail presence in the existing markets apart from entering new markets with our differentiated products, services and quality assurances.”
Susan Fletcher, Collin County Commissioner, and Jeff Cheney, Mayor of Frisco, Texas, jointly inaugurated the showroom in the presence of Shamlal Ahamed, Malabar’s managing director of international operations. The inauguration event was virtually attended by many other team members, well-wishers and dignitaries.
In addition to the US, the jewellery chain plans to open stores in the UK, Bangladesh, Australia, Egypt, Canada, Turkey and South Africa.
The company has robust retail expansion plans in India too which involve key cities such as Bhopal and Surat as well as key tier 2 markets such as Iritty, Anakapalle, Nanded, Vapi, Vasai and Vizianagaram.
Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a diversified Indian business conglomerate with an annual turnover of $4.1 billion. It has offices, design centres, wholesale units and factories spread across India, the middle east, the far east and the US. The Group, owned by more than 4,000 shareholders, has more than 16,500 professionals from over 26 countries working for it.
In addition to stores, the company retails through its own website. To further enhance its omni-channel initiative, Malabar Gold & Diamonds is working with prominent technology partners such as Microsoft, IBM, Accenture, E & Y, and Deloitte.