Malabar Gold to launch 97 showrooms by fiscal-end
The jewellery brand will soon have a strong presence in 13 nations across the world
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A team of enterprising entrepreneurs led by the visionary MP Ahammed established a jewellery trading company at Kozhikode in Kerala during 1993. Having headquarters at the same city, Malabar Gold & Diamonds has transformed into India's second largest retail jeweller after Tanishq, with a network of over 284 outlets in 10 countries. It has recently expanded its operations into Bangladesh.
The company plans to launch 97 showrooms, including 60 across India and 37 overseas, and this will take the company's total showroom count to 373 by March 2023. In an exclusive interview with Bizz Buzz, MP Ahammed, Chairman of Malabar Group, says that the jewellery brand will soon have a strong presence in 13 nations across the world.
What is the strategic objective behind setting up the manufacturing facility in Bangladesh and what is the investment outlay to develop the facility?
Bangladesh has the potential to emerge as a jewellery manufacturing destination. By collaborating with Nitol Niloy Group, we'll work towards developing Bangladesh into a jewellery manufacturing hub for the global audience while contributing positively to the country, its economy and society. We aim to replicate our transparent and sustainable business model in the country which offers a range of growth opportunities. We'll invest Rs 200 crore to develop the jewellery manufacturing facility at Modonpur. The facility will be operational in October 2022.
What will be the production capacity of the manufacturing facility?
The facility will have an annual production capacity of 6,000 kg of gold jewellery. To achieve quality and finish of the highest standards, it will employ skilled craftsmen and deploy the latest technologies like casting, CNC and CAD-CAM (3D). The facility will manufacture a diverse range of products including CNC cutting, chains, anklets, rings, bangles, 22K and 24K coins as well as diamond setting.
How will the manufacturing facility benefit the local artisans?
The manufacturing facility is expected to create approximately 250 jobs. The manufacturing unit will largely focus on exports and will provide numerous employment opportunities, especially for local artisans.
What are the environmentally sustainable provisions to be incorporated into the facility?
Malabar Group has a strong focus on sustainability. The facility will also be designed to incorporate various energy-efficient and environmentally sustainable features and promote clean energy. To reduce wastewater pollution, effluent water released from the plant will be treated with three layers of sedimentation treatment and will be released only after pH levels are balanced to an adequate extent.
What is the retail expansion plan for FY23?
Malabar Gold & Diamonds currently operates 14 manufacturing units in addition to offices and design centres spread across India, Middle East, Far East and the USA. As far as retail expansion is concerned, we will launch 97 showrooms - 60 across India and 37 overseas and this will take the company's total showroom count to 373 by March 2023. The company will soon have strong presence in 13 nations.
