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’s maritime solutions on show

Updated 20 February 2019
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Bahri’s maritime solutions on show

Saudi shipping company Bahri is demonstrating its commitment to advancing the growth of maritime industry and improving security in the logistics business at the International Defense Exhibition (IDEX) and Naval Defense and Maritime Security Exhibition (NAVDEX).

The events are being held under the patronage of Sheikh Khalifa bin Zayed Al-Nahyan, president of the UAE and supreme commander of the UAE Armed Forces in Abu Dhabi from Feb.17-21.

Khaled bin Hussain Biyari, assistant minister of defense — executive affairs; General Awwad Eid Al-Balawi, director general of Saudi Arabian Border Guards; and other officials visited Bahri’s booth during the events.

As part of its participation, Bahri is showcasing its maritime capabilities and innovation-driven solutions at the largest defense expo in the Middle East. The company is also highlighting its unmanned surface vessels (USVs) at its booth. Powered by MAP Pro technology, which transforms any vessel into an autonomous one, Bahri’s USVs are capable of numerous applications, including gathering data, surveillance and reconnaissance. In addition, the vessels offer significant cost savings and reduce human workload in high-risk operations. 

Bringing together more than 1,310 specialized companies from 62 countries, both events offer a strategic business platform for exhibitors to present their latest naval, maritime and coastal security technology, equipment and crafts, and explore partnership opportunities with local and international companies. 

Abdullah Aldubaikhi, CEO of Bahri, said: “Events such as IDEX and NAVDEX provide a unique opportunity to gather new insights into new security technologies that can help companies thrive in a safe and secure trade. With Saudi Arabia being at the forefront of efforts aimed at maintaining stability and security in the region, maritime security is a key focus area for the Kingdom.” 

Aldubaikhi added: “Bahri’s presence at IDEX and NAVDEX 2019 is part of our strategy to further strengthen our offerings to enhance the Kingdom’s maritime capabilities and support its transformation as the world’s leading logistics hub. The exhibition also provides us with an excellent platform to connect with our customers and explore new partnership opportunities that will further drive our ambitious expansion plans.”

Bahri Logistics, one of the five business units within Bahri and one of the top 10 breakbulk carriers in the world, operates six new state-of-the-art multipurpose vessels that are capable of carrying different types of cargo, including project, ro-ro, breakbulk, equipment, and container cargo.