Malabar Gold plans pan-India expansion

CHENNAI: Jewellery retailer Malabar Gold and Diamonds plans to increase its presence across the country with the launch of new outlets in Maharashtra, Gujarat, Delhi, Uttar Pradesh and Punjab.

The Kerala-based jeweller also plans to have overseas presence in South Asia, Middle East and Far Eastern markets, the company said.

The gold retailer on Monday inaugurated an outlet at Ramanathapuram, which is 11th in Tamil Nadu.

"The Group is expanding across other states such as Maharashtra, Gujarat, Delhi & NCR, Uttar Pradesh and Punjab. Apart from Gulf countries, it has decided to expand presence in South Asia, Middle East, Far East, Europe and America," a company statement said.

Currently, the Group has 94 stores worldwide, it said. "The launch of our showroom in Ramanathapuram is a part of our 2013 plan to strengthen our retail presence across the country. The company plans to increase its worldwide retail network and is targeting to have 220 stores by 2015," Malabar Group Chairman M P Ahammed said.

"Tamil Nadu is a key market for us and we plan to have 35 stores in the state by 2015, Malabar Gold and Diamonds, Regional Director (Tamil Nadu), V S Shafeek said.