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

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.”


Bentley marks 100 years at Monterey Car Week

Updated 21 August 2019

Bentley marks 100 years at Monterey Car Week

As part of its centenary celebrations, Bentley hosted a number of events during the Monterey Car Week, from Aug. 15 to 18.

To mark the occasion, two models debuted — the new Flying Spur luxury four-door grand tourer, and the EXP 100 GT: A vision of luxury mobility in 2035.

The third-generation Flying Spur sets new standards of driving enjoyment and luxury, showcasing Bentley’s application of modern technology, while integrating the latest British craftsmanship and innovation features.

The new Flying Spur will be the most advanced luxury grand touring four-door available. 

Alongside its totally new and advanced aluminum and composite chassis, it features optional electronic all-wheel steering — a first for a Bentley, coupled with active all-wheel drive and the Bentley Dynamic Ride active anti-roll system powered by a 48V architecture.

The Flying Spur was put on display on Aug. 16 at the Quail — a motorsports gathering and at the Home of Bentley for the remainder of the weekend.

It was joined by the EXP 100 GT concept car, which made its US debut. With the EXP 100 GT, Bentley has reimagined the idea of grand touring for the future.

The EXP 100 GT is pure Bentley, inspired by the company’s deep understanding of the desires of its forward-thinking customers. It embraces artificial intelligence (AI) as a means to reassert the car as a place for creating, experiencing and capturing extraordinary human experiences and emotions.

It displays the future of luxury craftsmanship with a seamless fusion of materials and the intelligent curation of technology. The vehicle’s battery system will power four motors that deliver superior performance. Projected performance figures include a 0-60 mph time of less than 2.5 seconds, a top speed of 186 mph, and maximum torque of 1,500 Nm.

Ahead of the EXP 100 GT’s Americas debut, Bentley launched a new and dedicated app for Apple devices.

Released on Aug. 12, the “Bentley 100 AR” app uses a printable QR code to provide an augmented reality experience of the EXP 100 GT, allowing users to explore the exterior and interior of the concept car. Users can even interact with a virtual version of the car in full scale, by using the app at selected Bentley retailers.

Bentley was a featured marque at Pebble Beach Concours d’Elegance, where numerous classic models competed in Bentley Centennial classes, including Vintage 4 Cylinder, Vintage 6 Cylinder, Derby and Postwar.