Malabar Gold unfurls Global Expansion plan that aims to realize an annual turnover of $6 billion by 2015
Malabar Gold, a leading gold and diamond jewellery player in South India and the Middle East, and the flagship company of Malabar Group of Companies, a leading diversified Indian business conglomerate, announced a four-year, Rs 35 billion ($700 million), expansion plan that will take the company’s retail network from its existing 64 outlets to 220, create 15,000 jobs and triple the company’s annual turnover to Rs. 300 billion (about $6 billion) by 2015, making it the world’s leading jewellery brand.
As a first step towards achieving these strategic milestones, MP Ahamed, Chairman of Malabar Group of Companies, launched the company’s new identity at a gala event held recently in Dubai. The new identity of “ Malabar Gold & Diamonds ”, which envisages a growth in the diamond jewellery sector in the coming years, incorporates a contemporary look and feel that appeals to a globally diverse clientele.
At the launch ceremony, which was attended by a distinguished gathering of guests, including the Group’s brand managers, Ms. Hema Malini and Padma Shri Mohanlal, Mr Ahamed revealed the brands aggressive expansion plans. Saying, “Malabar Gold & Diamonds, in its endeavour to become the world’s leading retailer in value appreciating gift articles, is undergoing a brand transformation to blend with its future business vision. The objective of the overall re-branding and expansion programme is to raise the international profile of Malabar Gold & Diamonds in line with its aspirations of becoming the world’s biggest and most valuable jewellery brand within the next few years,” Mr. Ahamed added, “We are undertaking this change to help scale our brand to greater heights and to better serve our discerning customers.”
For customers, the new Malabar Gold & Diamonds will remain grounded, accessible and prestigious, offering the best value for money as before, but with a service and product offering that is relevant to today’s global tastes. Malabar Gold & Diamonds, whose annual turnover last year exceeded $2.4 billion (Rs. 120 billion), is currently ranked as the third largest jewellery retailer in the world in terms of business figures, after Hong Kong based CTF and Tiffany & Co of the United States. As part of its ambitious expansion plans, the company is investing about $100 million (Rs. 5 billion) to roll out more than 20 retail outlets in 2012. This will raise the number of retail outlets in various parts of the GCC and India, to 84 outlets.
The company’s four-year expansion programme will also see Malabar Gold & Diamonds’ global footprint expand to South Asia, other parts of Middle East, Far East, Europe and the Americas and nearly triple its cluster manufacturing units to 10 from the existing four. Besides this, the company also plans to strengthen the brand’s presence and offerings in the existing markets of India and Middle East and grow this segment by 15-25 percent.
Malabar Gold and Diamonds is also pursuing a massive brand and marketing initiative to accomplish its global brand and business vision. Shamlal Ahmed MP, Group Executive Director of Malabar Gold & Diamonds said, “ We see a huge growth potential in the near future and to capture a substantial market share and to make the brand more visible and accepted globally, Malabar Gold and Diamonds will be spending $100 million (Rs 5 billion) over the next 4 years. ”
Apart from the existing sub brands like Era - uncut diamond jewellery, Ethnix - hand crafted designer jewellery, Divine- Indian heritage jewellery, Mine - diamonds unlimited, Precia - precious gem jewellery and Starlet - kids’ jewellery, the group is actively initiating the development of new brands to cater to discerning and varied global customer preferences.
Malabar Group is also partnering with Indian Institute of Management (IIM), Kozhikode to initiate a program to develop a capable talent base for successfully carrying forth the expansion plan. Dr. Ibrahim Haji, Co-Chairman of Malabar Group of Companies said “The group has always been a front runner in its CSR initiatives and the association with IIM Kozhikode reaffirms our long term commitment to the cause and to contribute back to the society”.
The new brand promise of ‘Celebrate the Beauty of Life’ aims to celebrate and be an integral part of celebrations that makes life beautiful and worth cherishing.
The new brand positioning to be the ‘Champions of Contemporary Tradition’ envisages a brand proud of its Indian beginnings and the country’s 5000 year old tradition in jewellery making. By crafting beautiful pieces of jewellery or value appreciating gift articles influenced by tradition but relevant to the tastes of today’s audience, Malabar Gold & Diamonds brings together the best of both worlds – traditional and contemporary.
Established in 1993 in South Indian state of Kerala, Malabar Gold today has a strong retail network of 64 outlets spread across seven countries, four wholesale units in addition to offices, design centres and factories spread across India and the UAE.
With cluster manufacturing units – four in India and GCC – the company currently has 5 jewellery brands to cater to the discerning needs of customers. With headquarters in Kerala, India and branches across India and GCC, Malabar Group is best known for its activities in the field of gold, diamond and precious metals.
