Malabar Gold & Diamonds Sets Sights on Maharashtra with Rs 1,000 Crore Investment and 4,000 Job Opportunities
Malabar Gold & Diamonds, ranked as the sixth-largest global jewelry retailer, boasting a presence across 11 countries through a network of over 330 outlets, has unveiled ambitious plans to invest an impressive sum of Rs 1,000 crore while simultaneously generating an estimated 4,000 employment opportunities in the state of Maharashtra by the fiscal year 2025. This significant announcement was made during the inauguration ceremony of the Malabar National Hub (M-NH), the centralized operational nucleus of Malabar Gold & Diamonds within India, situated in the locale of Andheri East, Mumbai.
The inauguration ceremony was graced by the esteemed presence of Devendra Fadnavis, the Deputy Chief Minister of Maharashtra. This event also witnessed the participation of notable dignitaries, including M P Ahammed, Chairman of the Malabar Group; Vijay Darda, former Member of Parliament and Chairman of the Lokmat Media Group; K P Abdul Salam, Vice Chairman of the Malabar Group; Asher O, Managing Director of India Operations at Malabar Gold & Diamonds; Group Executive Directors A K Nishad, K P Veerankutty, Mayinkutty, Abdul Majeed, A K Faisal, Abdulla; Fanzeem Ahammed, West Regional Head; along with other official dignitaries, the proficient management team of Malabar Group, valued industry partners, and well-wishers.
Spanning an extensive area of 50,000 square feet, the Malabar National Hub (M-NH) serves as a comprehensive center housing various pivotal functions of Malabar Gold & Diamonds. These encompass retail operations, procurement and supply chain management, e-commerce activities, digital gold services, digital marketing endeavors, customer relationship management (CRM), omnichannel operations, merchandising and bullion transactions, corporate gifting initiatives, and business-to-business (B2B) divisions. Additionally, human resources and legal matters are overseen from this strategic hub. M-NH stands poised to usher in a new era of growth, thereby propelling the Malabar Gold & Diamonds brand to unprecedented heights while facilitating the realization of its corporate objectives. The diligent operation of M-NH involves a workforce of more than 450 dedicated employees.
Recognizing Mumbai as the financial capital of India and a prominent global hub for jewelry and diamond trading, Malabar Gold & Diamonds has strategically chosen this vibrant metropolis as the epicenter for its national operations. This strategic decision aligns with the company’s objective to harness the manifold advantages presented by the city’s economic and geographical significance.
Commenting on the inauguration of M-NH, M P Ahammed, chairman, Malabar Group said, “As we celebrate 30 glorious years of our journey, the opening of Malabar National Hub is a proud moment and a significant landmark for us. It will further fuel our global growth aspiration and lay the foundation for the next phase of growth. The consolidation of all our key functionalities at M-NH will enhance efficiency and streamline management, as we focus on further growing our network of more than 190 retail showrooms across the country. I would like to take the opportunity to thank our loyal customers, shareholders, associates, and employees for their whole-hearted support. We would like to express our gratitude to Mr. Devendra Fadnavis, Hon’ble Deputy Chief Minister of Maharashtra, for his support in developing M-NH and gracing the event with his august presence. We also would like to thank the Government of Maharashtra for their continuing support in helping us in setting up M-NH and serving the customers in Maharashtra.”
“The opening of Malabar Gold & Diamonds’ national operational base in Mumbai is a strong testimony to the state’s conducive environment for investment and favorable business ecosystem”, commented Devendra Fadnavis, honorable deputy chief minister of Maharashtra. “With the brand’s well-documented tradition of transforming jewelry trade, providing employment opportunities, and championing social causes, I am confident that Malabar National Hub will be a key proponent of our state’s development, further enriching our legacy in the global diamond and gold trade,” he added.
“M-NH will play a pivotal role in spreading the famed jewelry craftsmanship of our country both in the domestic and global markets. India is our biggest market, our aim is to strengthen our retail presence in existing regions and expand into new territories including Rajasthan, Puducherry, Uttarakhand, Jharkhand, Goa, Assam, Tripura, and Jammu and Kashmir. Mumbai’s strategic edge will help us further drive growth in India,” said Asher O, managing director – India Operations, Malabar Gold & Diamonds.
“Our continued efforts to project the country’s unparalleled craftsmanship to the domestic market and to the world are delivering the desired results. Our recent foray into Europe with the launch of our first showroom in the UK at London, as well as the setting up of Malabar International Hub (MIH) in Dubai, UAE are significant milestones in our mission, ‘Make in India, Market to the World’. M-NH will drive that mission and accelerate our global digital transformation efforts, including the implementation of omnichannel operations, digital gold, and the endless aisle concept. M-NH will play an enabling role in realizing our ambitious growth plans” said Abdul Salam K P, vice chairman, Malabar Group.
In strict adherence to Malabar Gold & Diamonds’ commitment towards ESG (Environmental, Social & Governance) guidelines, various environmental and sustainable initiatives have been incorporated in the building’s designs and the facility is in the process of getting its LEED GOLD certification.