“We are getting wide acceptance in the global and Indian market place. Our core business values such as adherence to transparency, honesty, quality along with our value-added services, product designs that suited to every class of customers’ taste cutting across age group, are the key factors that give us global acceptance. In 2019 too, we will be opening more showrooms as well as manufacturing units along with skill development centres to groom the youth and absorb them in various job profiles. This will fuel our vision to become the top jewellery retailer in the world,” mentioned MP Ahammed, chairman of Malabar Group.
As a component of its expansion program, Malabar Gold & Diamonds is all set to open its second outlet in USA at Iselin, New Jersey on August 31. Their very first outlet in USA positioned at West Devon Avenue, Chicago was opened on November, 2018. The group at present operates retail outlets spread across ten nations in the India, Middle East, Southeast Asia and USA.
Its huge expansion program will see the business expand its footprint across all Tier 1 and Tier II cities in North and Central India – in order to cater to the expanding jewellery marketplace. The company’s program of significant expansion in international marketplace consists of new territories such as Bangladesh, Sri Lanka, Australia, Canada, Egypt and Turkey.
Malabar Gold & Diamonds is the jewellery retail arm of the diversified enterprise conglomerate Malabar Group that consists of other enterprise verticals such as actual estate developments, purchasing malls, hypermarket, technologies, retailing of house appliances and electronics, watches, franchisee retailing and solutions.
The new expansion will see Malabar Group boost its headcount to 13,500 specialists on direct payroll and expects to additional create a lot more jobs inside the subsequent 5 years to handle the planned development and expansion.
The group has a distinctive enterprise model exactly where its expansion is fuelled by investors who turn out to be shareholders in distinct entities in a extremely transparent ownership model. Malabar Gold & Diamonds at present have more than four,000 investors beneath distinct entities who share the identical vision, dedication and passion. Around 19.four per cent of these investors are complete time workers with the group, such as the front-finish managers and directors.
We will also continue to strengthen our retail foot print in the states exactly where we at present have powerful presence. Our distinctive enterprise model of sharing and caring has worked for us extremely nicely and it tends to make us a transparent and accountable organisation with a strong foundation exactly where all investors have a monetary and moral stake in the business.
Malabar Group believes that the most productive businesses are these which integrate sustainability into their core enterprise. The group is often proactive when it comes to CSR activities proper from the inception. The crucial concentrate places of the CSR initiatives of Malabar Group are in the places of Health, Education, Women Empowerment, Housing and Environment.
The organisation has kept aside five per cent of its profit for the CSR activities in all the regions that they operate. The group, which at present has showrooms across GCC, India, Malaysia, Singapore and USA undertakes numerous welfare activities with the association of like-minded organisations.
Information Source: Muscat Daily