NEW DELHI: Kerala-based Malabar Gold & Diamonds will be launching 12 new showrooms by March 2025 to strengthen its presence across India. The latest expansion will take Malabar’s total showroom count to 391 showrooms across 13 countries and a presence in 19 states across India. The world’s 6th largest jeweller said that it has invested Rs 600 crores in this expansion phase and hired 406 employees in various roles this financial year.
The new showrooms will be located at Panvel in Mumbai, Sinhagad Road in Pune, Brahmapur and Soubhagya Nagar in Odisha; Dhanbad in Jharkhand, Hospet, Nagarbhavi and Chitradurga in Karnataka; Nandyal, Amalapuram, Machilipatanam in Andhra Pradesh, Varanasi in UP.
Malabar Gold & Diamonds plans to open 60 new showrooms in 2025, further expanding its global presence. In April 2025, the Group is set to inaugurate 5 new showrooms, marking its expansion into the Middle East, UK, and Canada.
"As we continue to grow and enter new markets, each showroom opening represents a step closer to realizing our vision of becoming the world’s number one jewellery and luxury brand. This global market penetration not only broadens our reach but also strengthens our position as a trusted brand that offers excellence, integrity, and unparalleled luxury to our customers worldwide,” said MP Ahammed, Chairman, Malabar Group.
Beyond India, Malabar Group’s global presence spans across the UAE, Qatar, Kuwait, Oman, Saudi Arabia, Bahrain, Singapore, Malaysia, USA, UK, Canada, and Australia.
Earlier this year, Kalyan Jewellers had said it has set a target to open 170 showrooms in the financial year 2026. During the last quarter (Q3FY25), the Kerala-based company added 46 showrooms across its Kalyan and Candere formats, bringing the total showroom count to 349 as of December 31, 2024. In January-March quarter of the current fiscal (Q4FY25), Kalyan will be opening 30 new Kalyan showrooms and 15 Candere showrooms.
Established Jewellers’ aggressive expansion comes amid increasing consumer preference for branded players. According to financial services firm Motilal Oswal, the Indian jewellery sector has witnessed a shift of over 14% towards organized players, with their market share growing to 36-38% over the past five years.
Prominent brands in this space include Kalyan Jewellers, Tata Group’s Tanishq, Malabar Gold & Diamonds, PC Jeweller, and Senco Gold. Additionally, the Aditya Birla Group entered the jewellery market last year, further intensifying competition.