Malabar Gold & Diamonds records annual turnover of over Rs 51,000 crore, plans to open 100 new stores by 2025

Kerala-headquartered Malabar Gold & Diamonds, the world's sixth-largest jewellery retailer, announced today, April 11 that it has achieved an annual retail global turnover of Rs 51,218 crore in the last financial year. 

Malabar Gold & Diamonds currently operates 345 stores across 13 countries. The company aims to expand its reach in India and overseas markets. It is planning to open new stores in New Zealand, Egypt, Bangladesh, and more locations in Europe, and will also strengthen its presence in existing markets such as the US, Canada, UK, and Australia, with a target of opening 100 new stores within the next year, according to a statement. In India, it will expand its reach to Jharkhand, Goa, Assam, Tripura, and Jammu & Kashmir, the company said.

In the international markets, Malabat Gold & Diamonds currently has stores in the UAE, Qatar, Kuwait, Oman, Saudi Arabia, Bahrain, Singapore, Malaysia, USA, Canada, UK, and Australia. 

"Given our extensive global presence, we maintain our dedication to responsibly sourcing gold, ensuring it is mined without infringing upon the rights of individuals, particularly children, animals, and their habitats, assuring ethical practices, and transparent fund management. This commitment has earned us the trust and loyalty of our customers. We remain dedicated to sourcing responsibly mined materials and contributing positively to the communities we serve," said MP Ahammed, chairman, of Malabar Group.

Meanwhile, the gold retailer which is the 19th-ranked brand in Deloitte's Global Ranking of Luxury Products, also aims to hire an additional 7,000 employees, increasing the workforce to 28,000. 

Malabar Gold & Diamonds owns state-of-the-art design studio, training center, and research and development department also. The company operates 14 supply chain management units in eight countries and 15 jewellery manufacturing units across 5 countries, complemented by design studios showcasing over 25 exclusive brand collections. In India, manufacturing units are located in Kerala, Tamil Nadu, Karnataka, Telangana, Maharashtra, and West Bengal, while internationally, units are in the UAE, Saudi Arabia, Qatar, Oman, and Bangladesh.