This ambitious program will create 15,000 jobs and triple Malabar Gold’s annual turnover to 300 billion rupees (about $6 billion), making it the world’s leading jewelry brand.

As a first step toward achieving the set milestones, M. P. Ahamed, chairman of Malabar Group of Companies, launched a new identity, which has been rechristened as “Malabar Gold & Diamonds” foreseeing the growth in diamonds jewelry sector and incorporates a contemporary look and feel, to appeal to a globally diverse clientele.

This was done in association with The Brand Union Middle East, a world-class, global brand agency with 35 years’ experience, having over 20 offices worldwide, and is part of the WPP Group.

The brand strategy and identity was developed over a 15-month period during which extensive research, discussions and analysis were conducted globally.

Announcing the re-branding and aggressive expansion plans at a press conference in Dubai, Ahamed said: “Malabar Gold & Diamonds, in its endeavor 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 program is to raise the international profile of Malabar Gold & Diamonds in line with being the world’s biggest and most valuable jewelry brand within the next few years. We are undertaking this change to help scale our brand to greater heights and to better serve our discerning customers.”

As part of the ambitious plan, the company is investing about $100 million 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.