MUMBAI: Malabar Gold & Diamonds, the sixth-largest jewelry retailer globally, has announced an investment of Rs.1,000 crore and the creation of 4,000 jobs in Maharashtra by FY25. The announcement was made during the launch of Malabar National Hub (M-NH), its centralized base of India operations, in Mumbai. The state-of-the-art facility was inaugurated by Shri Devendra Fadnavis, Hon’ble Deputy Chief Minister of Maharashtra, in the presence of other official dignitaries, management team members of the Malabar Group, industry partners, and well-wishers.
Spread over 50,000 sq. ft., M-NH brings together Malabar Gold & Diamonds’ multiple operations such as retail, procurement and supply chain, e-commerce, digital gold, digital marketing, CRM, omnichannel operations, merchandising and bullion, corporate gifting, and B2B divisions, human resources, and legal. M-NH will be the strategic foundation for the brand’s current and future business aspirations in India.
The new facility will be the strategic foundation for the brand’s current and future business aspirations in India. The company has deployed more than 450 employees to run the operations at M-NH. Mumbai being the financial capital of India and a major global jewelry and diamond trading hub, Malabar Gold & Diamonds has set up its base for its national operations in the city to leverage its strategic advantages.
Commenting on the inauguration of M-NH, Shri M.P Ahammed, Chairman, of Malabar Group said, “As we celebrate 30 glorious years of our journey, the opening of Malabar National Hub is a proud moment and a significant landmark for us. It will further fuel our global growth aspiration and lay the foundation for the next phase of growth. The consolidation of all our key functionalities at M-NH will enhance efficiency and streamline management, as we focus on further growing our network of more than 190 retail showrooms across the country.”
“The opening of Malabar Gold & Diamonds’ national operational base in Mumbai is a strong testimony to the state’s conducive environment for investment and favorable business ecosystem,” commented Shri Devendra Fadnavis, Hon’ble Deputy Chief Minister of Maharashtra. “With the brand’s well-documented tradition of transforming the jewelry trade, providing employment opportunities, and championing social causes, I am confident that Malabar National Hub will be a key proponent of our state’s development, further enriching our legacy in the global diamond and gold trade,” he added.
“M-NH will play a pivotal role in spreading the famed jewelry craftsmanship of our country both in the domestic and global markets. India is our biggest market, our aim is to strengthen our retail presence in existing regions and expand into new territories including Rajasthan, Puducherry, Uttarakhand, Jharkhand, Goa, Assam, Tripura, and Jammu and Kashmir. Mumbai’s strategic edge will help us further drive growth in India,” said Shri Asher O, Managing Director – India Operations, Malabar Gold & Diamonds.
In strict adherence to Malabar Gold & Diamonds’ commitment towards ESG (Environmental, Social & Governance) guidelines, various environmental and sustainable initiatives have been incorporated in the building’s designs, and the facility is in the process of getting its LEED GOLD certification.
Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a leading diversified Indian business conglomerate. With an annual turnover of $5.2 billion, the company currently ranks as the sixth-largest jewelry retailer globally and today has a strong retail network of over 330 outlets spread across 11 countries in addition to multiple offices, design centers, procurement centers, and factories spread across India, Middle East, Far East, the USA & the UK. The group, owned by more than 4,000 shareholders, has more than 21,000 employees from over 26 countries working towards its continued success.
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