* 22 new showrooms planned in January
* To come up in GCC, Far East, in India
* Company targeting to open 750 stores


Kerala-based Malabar Gold & Diamonds, which is one of the largest gold and diamond retailers, is opening two more outlets in Qatar as part of its global expansion as it aims to generate total turnover of $10bn by 2025.
It is opening two outlets in Landmark Shopping Mall in Gharrafa and Al Meera Jeryan Jenaihat on January 22. The group already has six showrooms in Doha and one in Al Khor.
The opening of two outlets in Qatar comes as part of planned opening of 22 showrooms this month, of which 12 are in the Gulf Co-operation Council or GCC and Far East, and 10 in India, entailing a total investment of $107.5mn.
This is for first time a jewellery retailer, which has plans to launch its initial public offering (IPO), is opening so many showrooms in a single month.
"With the launch of 22 showrooms in January, we are all set to make an impactful beginning to the New Year. Our mission is Make in India and Market to the world," Malabar Gold & Diamonds chairman M P Ahammed told the media yesterday.
Highlighting its commitment to further the brand value of Indian jewellery at the international level and create more job opportunities in the manufacturing sector domestically; he said Malabar Gold and Diamond has a robust retail presence in 10 countries.
"This expansion programme will create approximately 5,000 job opportunities in the retail, manufacturing, technical and management areas related to jewellery trade," Ahammed said.
In addition, the group has 14 wholesale units and 14 jewellery making units in India and abroad. At present, the company has an annual turnover of $4.51bn.
On strengthening its manufacturing capabilities, Ahammed said it comes as part of its backward integration policy to achieve competitiveness and cost efficiency in the sector, which contributes about 7% to the global GDP or gross domestic product.
The massive expansion drive this month will begin with the launch of the Artistry concept (22,000sq ft) store in MG Road in Bengaluru, India on January 8.
Highlighting that the current expansion plans will further consolidate its pole position both domestically and internationally, Shamlal Ahammed, managing director, International Operations, said its strategy is to "expand into newer geographies like Egypt, Turkey, Australia, Canada, Europe and other African countries."
Additionally, the group is also focusing on strengthening its foot print in the GCC, Malaysia and the US, he said, adding it would also seek to reach out to non-South Asian ethnicities in the existing markets.
With the aim of becoming the largest jewellery group in the world, Malabar Gold & Diamonds is targeting to open 750 stores.
“Our retail expansion is a part of our strategy to further strengthen our retail footprint in the territories where we have strong presence as well as foray into new markets with our differentiated services and product offerings," said O Asher, managing director, India Operations, Malabar Gold and Diamonds.