Rs 240 Crore To Be Invested By Malabar Gold To Open Showrooms In India And Abroad
Malabar Gold and Diamonds has informed that it would be investing Rs 240 crore to open 9 stores in India and other countries. The jewelry retailer owns and operates 250 retail outlets spread across 10 countries including India, the Middle East, Southeast Asia, and America. The company plans to expand its footprint across all tier-I and tier-II cities in north and central India. The idea is also to strengthen its position in markets like Singapore, Malaysia, Oman, and the UAE.
The firm has scheduled the opening of five stores across the country including Lucknow, Dwarka (Delhi), Ghaziabad (Uttar Pradesh), Thane (Maharashtra), and Kamanahalli (Bengaluru) in Karnataka. With the festive season in the eye, the company is focusing on its One India One Gold Rate initiative, which aims to offer uniform pricing of gold to customers across the country.