 "Malabar Gold to invest ₹600 cr in 12 new showrooms across India this year")
Jewellery retailer Malabar Gold on Thursday said it will add 12 new showrooms across the country in the current fiscal at an investment of Rs 600 crore.
Malabar Gold & Diamonds operates 11 state-of-the-art factories across India and 5 international units.
The new showrooms will be opened in Panvel in Mumbai, Sinhagad Road in Pune, Brahmapur and Soubhagya Nagar in Odisha, Dhanbad in Jharkhand, Hospet, Nagarbhavi and Chitradurga in Karnataka, Nandyal, Amalapuram, Machilipatanam in Andhra Pradesh and Varanasi in Uttar Pradesh.
This will take the total showroom count to 391 showrooms across 13 countries and 19 states in India and create employment opportunities this financial year, the company said in a statement, adding that currently, it employs over 25,000 professionals from 26 countries.
Malabar Gold is also planning to open 60 new showrooms in India and overseas in 2025-26, of which 5 stores will be launched in April in the Middle East, UK, and Canada.
The company, however, did not disclose the capex of its FY26 expansion.
"We will open 12 new showrooms across the country by the end of FY25 with an investment of Rs 600 crore... This strengthens our position as a trusted brand that offers excellence, integrity, and unparalleled luxury to our customers worldwide," Malabar Group Chairman MP Ahammed added.