Ø The store marks Malabar Gold & Diamonds’foray into Bhubaneswar in Odisha
Ø The store launch is a part of global expansion plan of the Group
14th March, 2021: Malabar Gold & Diamonds, one of the largest gold and diamond retail chains in the country, launched it’s first store in Bhubaneswar in Odisha, on 13th March 2021. The store was inaugurated by Mr. Sabyasachi Mishra (Indian film actor) in the presence of M P Ahammed (Malabar Group Chairman), Dr.P.A. Ibrahim Haji (Co-chairman- Malabar Group),O Asher (Managing Director-Indian OperationsMalabar Gold & Diamonds), Shamlal Ahamed (Managing Director – International Operations Malabar Gold & Diamonds), Abdul Salam KP (Group Executive Director- Malabar Group),P.K Siraj (Regional Retail Head, Malabar Group) and other senior management officials. Located at Rupali Square, Saheed Nagar, the lavish store is a part of its global expansion plan of the jeweller and its vision to strengthen retail presence in eastern India.
The aesthetically-designed showroom in Bhubaneswar offers superior shopping experience along with extraordinary design diversity with quality assurance and wonderful after-sales customer convenience. The Bhubaneswar store will display a remarkable range of bridal jewellery, traditional jewellery, daily wear jewellery in gold, diamond and platinum along with hand-picked designs from the popular sub-brands of Malabar Gold and Diamonds such as Mine for diamond jewellery, Era for uncut diamond jewellery, Divine for Indian heritage jewellery, Ethnix handcrafted jewellery collection, Precia precious gemstone jewellery, Zoul lifestyle jewellery and Starlet for kids jewellery. The store will offer jewellery for all family and personal and special occasions and daily use. The store offers special offer on wedding purchases wherein customer can book jewellery by paying minimum 10% in advance and get jewellery at the booked rate or prevailing rate whichever is lower. The Showroom offers safe and hygienic retail ambiance to its customers by complying with the safety guidelines issued by the authorities and also adopted all the required precautions and safety measures.
“The store in Bhubaneswar will help us further expand our presence in eastern India. The store launch will bring an element of novelty to our main foray into Odisha. Our retail expansion is a part of our plan to become the number one gold retail brand in the world in terms of both showroom count and sales. So, we have plans to triple the number of showrooms in the next five years”, said Malabar Group Chairman MP Ahammed.
“Our unparalleled transparency in pricing and quality has helped us win customer confidence across the country and beyond. We want to offer our unique services, facilities and unmatched variety to the customers in Odisha”, said O Asher, Managing Director, India Operations, Malabar Gold & Diamonds. “we are extremely happy to associate with Mr. Sabyasachi Mishra and we look forward to work with him again in future also” he added.
Malabar Gold &Diamonds has launched ‘One India One Gold Rate’ scheme under which it offers gold jewellery at a uniform price across the country, and also introduced Fair Price Promise as part of its commitment to customers, which focuses on assigning reasonable making charges to a vast range of products. Now customers can get wide array of products with making charges starting from 4.9% onwards. The group has also recently forayed into the gold bullion industry and its responsibly sourced gold bars are available for jewellery manufacturers, small gold traders and retail investors desiring to invest in physical gold for purchase. The same can be purchased using the Malabar Bullion App.
As a part of its commitment, Malabar Gold & Diamonds offers 10 promises to its customers.The commitments include transparent price tag indicating the exact manufacturing cost, stone weight, net weight and stone charge of the jewellery, assured lifetime maintenance for the jewellery, 100 per cent value for gold when reselling old gold jewellery and zero deduction on exchange, 100 per cent BIS hallmarked certified gold, IGI and GIA certified diamonds ensuring 28-point quality check of global standards, buyback guarantee, fair price policy, responsibly sourced products and fair labour practices. The brand has been well known for its responsible practices in the gold & bullion industry where malpractices such as tax evasion, money laundering and short changing of customers are rampant.
The Malabar Groups commits 5% of its profit to supporting socially responsible purposes both in India and abroad. Education, health, women empowerment, affordable housing and environmental protection are the focus areas for the Group.
Malabar Gold & Diamonds is the flagship company of Malabar Group, a leading diversified Indian business conglomerate. Founded in 1993 by a team of enterprising businessmen led by Mr. Ahammed MP at the northern city of Kozhikode, Kerala, Malabar Gold & Diamonds has come a long way to become the world’s fifth largest jewellery retailer with over 260 showrooms spread over ten geographies with its annual turnover touching approximately Rs. 30,000 crores. With 13 cluster manufacturing units in India and GCC – the company currently has 12 jewellery brands to cater to the discerning needs of customers. This is a rare foot for a business house that started its long march as a single shop retail outlet and reached the pinnacle of its business vertical in such a short span of time. With headquarters in Kerala and branches across India, Middle East and the Far East, Malabar Group is best known for its activities in the field of gold, diamonds, silver and lifestyle articles.
Malabar Gold & Diamonds launches new showroom in Bhubaneswar