Malabar Gold to triple retail footprint by 2023

M.P. Ahammed, chairman; Abdul Salam K.P., group Executive director; and Shamlal Ahamed, managing director (international operations), unveil the 25th anniversary celebration logo of Malabar Group in Mumbai. (Photo/Supplied)
Updated 11 October 2018
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Malabar Gold to triple retail footprint by 2023

Indian jewelry retailer Malabar Gold & Diamonds has announced an ambitious global growth plan on the eve of its silver jubilee (25 years) celebrations that will see the company triple its retail network from 250 showrooms this year to 750 outlets in the next five years, with an annual turnover exceeding $6.16 billion.

The group currently operates retail outlets across 10 countries in India, the Middle East, Southeast Asia and America. Its expansion plan will see the company expand its footprint across all tier-1 and tier-2 cities in North and Central India. The company’s plan of expansion in the international market includes new territories such as Bangladesh, Sri Lanka, Australia, Canada, Egypt and Turkey. As much as 40 percent of the group turnover will be generated from the company’s operations outside India.

The company plans to invest $960 million to manage the growth and expansion. The expansion will see Malabar Group expand its investor base from 2,752 investors and include more investors from North and Central Indian states.

The expansion will see Malabar Group nearly double its headcount from 13,000 to 25,000 professionals on direct payroll within the next five years.

“A Silver jubilee is a major milestone in any company’s history and during this time Malabar Group grew from a local entity to an Indian international brand with a large loyal customer base. Today, Malabar is a name to reckon with and known to almost every consumer. During the last 25 years, Malabar Gold & Diamonds has grown from strength to strength and rose from being a small outfit to an international player across a number of verticals including gold and diamond jewelry retail, jewelry manufacturing and multi-retail concepts,” said M.P. Ahammed, chairman of Malabar Group.

Abdul Salam K.P., group executive director of Malabar Group, said: “As a responsible business, we are very mindful of our obligations to our societies. Our expansion will create more well-paid jobs and we are very excited about our future growth plan. We ensure our entire operation in a very transparent way. We understand the sensitivity of the industry and ensure compliance through responsible sourcing, ethical business practices, transparent and professional fund management.”

Shamlal Ahamed, managing director of international operations, said: “As an Indian-born international jewelry brand, we take pride in our roots in India and help connect global consumers to Indian heritage and art. Our further expansion in the international arena will lead to Indian artisanal jewelry being showcased at prominent global destinations.”


Bahri strengthens market footprint in Asia-Pacific region

Khalid Al-Garawi, senior manager, Bahri Chemicals.
Updated 21 April 2019
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Bahri strengthens market footprint in Asia-Pacific region

Saudi logistics and transportation company Bahri has announced the expansion of its market presence in the Asia-Pacific (APAC) region’s maritime industry. The stronger presence will help the company gain deeper insights into market trends as well as customer needs in chemicals and logistics sectors in Singapore and the wider APAC region.
The announcement took place at a ceremony held on April 5 at Regent Hotel in Singapore, in the presence of Abdullah Aldubaikhi, CEO of Bahri, and senior executives of the region’s oil majors, petrochemical trading companies and ship brokers.
The expansion will also enable Bahri Logistics and Bahri Chemicals, two of five business units of the company, to market their offerings, acquire new clients, serve existing clients, and channelize the communications. Bahri has plans to expand the services of its other business units to the APAC region in the future.
Bahri CEO Aldubaikhi said: “In our efforts to deliver on Bahri’s vision of connecting economies, sharing prosperity, and driving excellence in global logistics services, we have been actively pursuing the company’s ambitious long-term strategy to drive sustainable growth and expand its market footprint. As a result, we have established a solid presence regionally and globally. Our expansion in the Asia-Pacific region represents a key milestone in our journey, and with this, we have come even closer to our customers, allowing us to serve them better offering a wider range of industry services and unprecedented value.”
Over the past 41 years, Bahri has steadily expanded market presence to cement its position as a global leader in the maritime industry. The company currently has offices in Saudi Arabia, UAE, US and India, in addition to a vast network of agents across the Middle East and Africa, US, Europe, and Asia.
Bahri Chemicals is the largest owner and operator of chemical carriers in the Middle East, serving 150 ports worldwide. It owns and operates 36 chemical/product tankers with a capacity of 1.1 million DWT designed to the highest specifications, capable of carrying a wide range of chemical cargoes. The first business unit within Bahri, Bahri Logistics, is one of the top 10 breakbulk carriers in the world and operates six new state-of-the-art multipurpose vessels with 26,000 DWT each on a regular liner schedule.