Malabar Gold & Diamonds to invest Rs.1,000 crore and generate 4,000 jobs in Maharashtra by FY25

Malabar Gold & Diamonds to invest Rs.1,000 crore and generate 4,000 jobs in Maharashtra by FY25

·        Opens its Centralized Base of India Operations, Malabar National Hub (M-NH) in Mumbai

·        Inaugurated by Shri Devendra Fadnavis, Hon'ble Deputy CM of Maharashtra

·        Located at the Maharashtra Industrial Development Complex (MIDC) in Andheri East, Mumbai

·        The 50,000 sq. ft. centralized hub brings together retail, procurement supply chain, and B2B operations in India

·        The new facility will be the strategic foundation for the brand’s current and future business aspirations in India.

·        To launch 32 stores in India and 12 stores in other countries by FY24

Hyderabad 2023 : Malabar Gold & Diamonds, the 6^th largest jewellery retailer globally with over 330 outlets across 11 countries, will invest Rs.1,000 crore and generate 4,000 jobs in Maharashtra by FY25. The announcement came during the launch of Malabar National Hub (M-NH), its centralised base of India operations, at Andheri East in Mumbai. The state-of-the-art facility was inaugurated by Shri Devendra Fadnavis, Hon'ble Deputy Chief Minister of Maharashtra in the presence of Shri M.P Ahammed, Chairman, Malabar Group, Shri Vijay Darda, former Member of Parliament and Chairman, Lokmat Media Group, Shri K.P Abdul Salam, Vice Chairman, Malabar Group, Shri Asher O, MD – India Operations, Malabar Gold & Diamonds, Group Executive Directors AK Nishad, KP Veerankutty, Mayinkutty, Abdul Majeed, AK Faisal, Abdulla, West Regional Head Fanzeem Ahammed, other official dignitaries, management team members of Malabar Group, industry partners, and well-wishers.

Spread over 50,000 sq. ft., M-NH brings under one roof Malabar Gold & Diamonds' multiple operations such as retail, procurement and supply chain, e-commerce, digital gold, digital marketing, CRM, omnichannel operations, merchandising and bullion, corporate gifting and B2B divisions, human resources and legal. M-NH will usher in a new era of growth and catapult the brand to new heights by paving the way for Malabar Gold & Diamonds to achieve its business goals. The company has deployed more than 450 employees to run the operations at M-NH.

Mumbai being the financial capital of India and a major global jewellery and diamond trading hub, Malabar Gold & Diamonds has set up its base for its national operations in the city to leverage its strategic advantages.

Commenting on the inauguration of M-NH, Shri M.P Ahammed, Chairman, Malabar Group said, “As we celebrate 30 glorious years of our journey, the opening of Malabar National Hub is a proud moment and a significant landmark for us. It will further fuel our global growth aspiration and lay the foundation for the next phase of growth. The consolidation of all our key functionalities at M-NH will enhance efficiency and streamline management, as we focus on further growing our network of more than 190 retail showrooms across the country. I would like to take the opportunity to thank our loyal customers, shareholders, associates, and employees for their whole-hearted support. We would like to express our gratitude to Mr. Devendra Fadnavis, Hon'ble Deputy Chief Minister of Maharashtra, for his support in developing M-NH and gracing the event with his august presence. We also would like to thank the Government of Maharashtra for their continuing support in helping us in setting up M-NH and serving the customers in Maharashtra."

“The opening of Malabar Gold & Diamonds’ national operational base in Mumbai is a strong testimony to the state’s conducive environment for investment and favourable business ecosystem”, commented Shri Devendra Fadnavis, Hon'ble Deputy Chief Minister of Maharashtra. “With the brand’s well-documented tradition of transforming jewellery trade, providing employment opportunities, and championing social causes, I am confident that Malabar National Hub will be a key proponent of our state’s development, further enriching our legacy in the global diamond and gold trade”, he added.

“M-NH will play a pivotal role in spreading the famed jewellery craftsmanship of our country both in the domestic and global markets. India is our biggest market, our aim is to strengthen our retail presence in existing regions and expand into new territories including Rajasthan, Puducherry, Uttarakhand, Jharkhand, Goa, Assam, Tripura, and Jammu and Kashmir. Mumbai's strategic edge will help us further drive growth in India," said Shri Asher O, Managing Director – India Operations, Malabar Gold & Diamonds.

 “Our continued efforts to project the country's unparalleled craftsmanship to the domestic market and to the world are delivering the desired results. Our recent foray into Europe with the launch of our first showroom in the UK at London, as well as the setting up of Malabar International Hub (MIH) in Dubai, UAE are significant milestones in our mission, 'Make in India, Market to the World'. M-NH will drive that mission and accelerate our global digital transformation efforts, including the implementation of omnichannel operations, digital gold, and the endless aisle concept. M-NH will play an enabling role in realising our ambitious growth plans" said Shri Abdul Salam K.P., Vice Chairman, Malabar Group.

In strict adherence to Malabar Gold & Diamonds’ commitment towards ESG (Environmental, Social & Governance) guidelines, various environmental and sustainable initiatives have been incorporated in the building’s designs and the facility is in the process of getting its LEED GOLD certification..