Page 31 - Bullion World Volume 3 Issue 10 October 2023

Bullion World | Volume 3 | Issue 10 | October 2023

Malabar Gold & Diamonds to invest

Rs.1,000 crore and generate 4,000 jobs

in Maharashtra by FY25

Highlights of the new facility
• Inaugurated by Shri Devendra Fadnavis, Hon'ble Deputy CM of Maharashtra
• Located at the Maharashtra Industrial Development Complex (MIDC) in Andheri East, Mumbai
• The 50,000 sq. ft. centralized hub brings together retail, procurement supply chain, and B2B operations in India
• The new facility will be the strategic foundation for the brand’s current and future business aspirations in India.
• To launch 32 stores in India and 12 stores in other countries by FY24

Mumbai, 28th September 2023: Group, Shri K.P Abdul Salam, Vice gold, digital marketing, CRM, Omni
Malabar Gold & Diamonds, the 6th Chairman, Malabar Group, Shri Asher channel operations, merchandising
largest jewellery retailer globally with O, MD – India Operations, Malabar and bullion, corporate gifting and
over 330 outlets across 11 countries, Gold & Diamonds, Group Executive B2B divisions, human resources and
will invest Rs.1000 crore and Directors AK Nishad, KP Veerankutty, legal. M-NH will usher in a new era
generate 4,000 jobs in Maharashtra Mayinkutty, Abdul Majeed, AK of growth and catapult the brand to
by FY25. The announcement Faisal, Abdulla, West Regional Head new heights by paving the way for
came during the launch of Malabar Fanzeem Ahammed, other official Malabar Gold & Diamonds to achieve
National Hub (M-NH), at Andheri dignitaries, management team its business goals. The company has
East in Mumbai. The state-of-the- members of Malabar Group, industry deployed more than 450 employees
art facility was inaugurated by Shri partners, and well-wishers. to run the operations at M-NH.
Devendra Fadnavis, Hon'ble Deputy Mumbai being the financial capital of
Chief Minister of Maharashtra in the Spread over 50,000 sq. ft., M-NH India and a major global jewellery and
presence of Shri M.P Ahammed, brings under one roof Malabar Gold diamond trading hub, Malabar Gold
Chairman, Malabar Group, Shri Vijay & Diamonds' multiple operations & Diamonds has set up its base for
Darda, former Member of Parliament such as retail, procurement and its national operations in the city to
and Chairman, Lokmat Media supply chain, e-commerce, digital leverage its strategic advantages.

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