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Malabar Gold to invest Rs 2,000 cr, to open 80 stores

The jewellery retailer has Rs 2,000 crore expansion plan to open 80 more stores this financial year

Press Trust of India  |  Mumbai 

Expecting better sales after the new uniform taxation regime GST from next month, jewellery chain Malabar Gold & Diamonds has drawn up a Rs 2,000 crore expansion plan to open 80 more stores this financial year. On how the expansion will be funded, company's Chairman M P Ahammed said 75 per cent will be debt from banks and the remaining Rs 500 crore will be internal accruals. The Kozhikode-based company is the second largest jewellery retailer in the country with 85 showrooms, behind Tata's Tanishq, and has 97 stores abroad. "Of the 80 stores planned this year, 40 will ...

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First Published: Sun, June 18 2017. 11:06 IST
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