Increasing gold retail network

BANGALORE: Malabar Gold and Diamonds opened its third showroom in Bangalore at Rajajinagar on April 8 taking the count of stores in Karnataka to seven and the total number to 66. The new showr

Published: 09th April 2012 07:32 AM  |   Last Updated: 16th May 2012 10:27 PM   |  A+A-

09net01

Actress Hema Malini inaugurating a jewellery store | NAGESH POLALI

BANGALORE: Malabar Gold and Diamonds opened its third showroom in Bangalore at Rajajinagar on April 8 taking the count of stores in Karnataka to seven and the total number to 66. The new showroom was opened by veteran Bollywood actress Hema Malini.

The group executive director, Asher O said, “In Karnataka, the company plans to have 20 showrooms by 2015. Malabar Gold and Diamonds has plans to open its other showrooms in Davangere, Shimoga, Udupi, Belgaum, Gulbarga, Tumkur, Karwar and other cities.”

Other than Karnataka, the Kerala-based jewellery retailer is planning to open outlets in other parts of the country such as Maharasthra, Punjab, Gujarat, Delhi, UP and NCR region.

The chairman of Malabar Group of companies, MP Ahamed said, “The company plans to increase its worldwide retail network to 200 by 2015 from the current 66 to become the world’s leading jewellery brand.” When we asked Hema Malini what is that one quality or characteristic with which she could relate herself to the brand, she said, “The genuine quality of their products appealed to me the most.

That is what makes them stand out from the many other jewellery brands in the market.” She added, “Hence, I am proud to be associated with the brand and they have plans to expand in a very big way not only in India but across Europe and America.

With their expansion plans they will also be creating employment opportunities for around 15,000 people.” Currently the brand’s revenue is Rs 12,000 crore annually and with their expansion plan, they are planning to increase the revenue to Rs 30,000 crore annually by 2015.

Asher O added, “Initially, diamonds formed just 5 per cent of our revenue.

Hence, the company has launched a new identity, Malabar Gold and Diamonds, foreseeing growth in the diamonds jewellery industry.” He added, “We have also tied up with Gujarat-based Mahendra Brothers as part of the initiative.”

Stay up to date on all the latest Bengaluru news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp