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.”


Shell KSA supports special needs children

The event organized by the Disabled Children’s Association was held on Nov. 12.
Updated 09 December 2018
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Shell KSA supports special needs children

Shell Saudi Arabia has announced the continuation of its sponsorship for the Disabled Children’s Association (DCA) art program for two years (2018-2019). The announcement, made at an event organized by the DCA on Nov. 12, is part of Shell Saudi Arabia’s ongoing support for children with special needs.

Since its establishment in 1981, the Disabled Children’s Association has become one of the largest institutions specialized in the care of children with special needs in the Arab world.

The program held last month promoted the skills and artworks of such children.

To mark the collaboration between the two organizations, Abdulrahman bin Abdul Aziz Al-Suwailim, vice chairman of the Disabled Children’s Association’s executive committee, presented a commemorative shield to Mohammed Al-Zomaia, Shell Saudi Arabia’s general manager for corporate development.

“At Shell, we believe in creating an inclusive culture where everyone can thrive. Today’s talent is more diverse than ever before. An inclusive environment is key to innovating, developing and retaining talent, and it begins with the youngest members of our communities,” said Al-Zomaia.

Shell has been active in the Kingdom for over seven decades and has a wide variety of social investment activities in the country, many of which are centered around youth empowerment, such as Shell Intilaaqah and FutbolNet.

Shell Intilaaqah aims to strengthen young people’s career options by enabling them to switch from being an employee to becoming an employer, or making the transition from seeking employment to creating employment. Shell’s trainees have set up 1,100 businesses, in addition to 500 existing small and medium businesses. Together, they created over 3,000 jobs. Shell Intilaaqah has been training Saudi entrepreneurs since 2010. Over the past years, Shell Intilaaqah trained, supported and mentored 10,000 Saudis — the majority of whom were women. 

Shell and Football Club (FC) Barcelona Foundation work together and use football to teach children the importance of values. The FutbolNet program is a 12-week football training course for children supported by dedicated coaches. Futbolnet aims to infuse values like respect, teamwork and commitment, which are key for the children to develop as happy, healthy and value-adding individuals.