Malabar Gold and Diamonds announces $125mn investment for expansion


September 16, 2015 | By RetailME Bureau

Jewellery retailer Malabar Gold and Diamonds has set aside $125-million worth of investment to open 21 retail stores across the GCC, India and Far East in the next six months.

Of the total allocated amount, Malabar Gold and Diamonds is planning to invest $60 million in eight stores in the UAE, $27 million in five outlets in Saudi Arabia, $16 million in three outlets in Oman and $6 million in one outlet in Malaysia. Further the company will add four more outlets in India at an investment of $16 million.

“The current lower gold and commodity prices offer a great opportunity for investors and jewellery buyers. With gold prices remaining low, we see a strong buyer and investor interest for the yellow metal and diamonds,” shares MP Ahamed, chairman of Malabar Group.

“We have seen a greater appetite among consumers who have continued to throng our outlets for more gold and diamond jewellery this summer. Our next phase of expansion is aimed at offering a better value to our customers as well as a wider option to investors who are looking at higher returns from investment.”

Malabar Gold and Diamonds is set to open eight outlets in the UAE including a large format ‘jewellery paradise’ in Abu Dhabi spanning 12,000 sqft, reportedly the largest jewellery retail outlet in the Middle East showcasing a variety of jewellery catering to a global audience.

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



Foodlink Global Restaurants & Catering Services, the F&B services enterprise in India 

Continue Reading

December 29, 2021 | By Zubina Ahmed

‘Tis the time to be jolly! The festive season is back. Celebrate 

Continue Reading

December 19, 2021 | By RetailME Bureau

“It sounds like this, Luh Pan Koh-ti-dyan and means ‘the daily bread’, 

Continue Reading

December 6, 2021 | By Zubina Ahmed

The long weekend might be over but the Etisalat Beach Canteen 2021 

Continue Reading

December 5, 2021 | By RetailME Bureau

UAE gears up to celebrate this year’s National Day celebrations in the 

Continue Reading

November 28, 2021 | By Zubina Ahmed

UAE-based Etisalat Group has signed an agreement with elGrocer, a leading online 

Continue Reading

November 18, 2021 | By RetailME Bureau

Amazon.ae announced that the 11.11 sale is back once again this year 

Continue Reading

November 8, 2021 | By RetailME Bureau

Abu Dhabi Cooperative Society’s COOP City store is now open in Lake 

Continue Reading

November 3, 2021 | By RetailME Bureau

Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau




Download Images RetailME Magazine