Malabar Gold & Diamonds to invest Rs 1,600 crore in FY22 on 56 stores

This is in line with the company's expansion plan to triple its retail network from over 250 showrooms this year to 750 outlets by 2023

Gold and diamond retail chain Malabar Gold & Diamonds will be investing Rs 1,600 crore in FY22 to launch 56 stores globally with 40 across India and 16 internationally in FY22 to further boost its retail presence across the globe. The move is expected to generate over 1,700 jobs. 

In India, the expansion strategy is centred in states like Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Maharashtra, Delhi, West Bengal, Uttar Pradesh, Odisha and Kerala. Internationally, the expansion will be in  markets such as Singapore, Malaysia, Oman, Qatar, Bahrain and UAE. This is in line with the company’s expansion plan to