Kochi: Malabar Gold & Diamonds, based in Kerala, which is one of the largest gold and diamond traders, is expanding and is investing Rs 1.6 trillion next quarter to add 56 stores.
Of the 56 new stores, 40 will be in the country and the rest 16 abroad. The company expects to create 1,750 new jobs next year.
The chairman of the Malabar group, Ahammed, said on Wednesday that expanding our presence by another 56 stores would cost us 1,600 million euros and create 1,750 new jobs. “The local expansion will be in Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Maharashtra, Delhi, Bengal, UP, Odisha and Kerala,” he said.
This will strengthen its position in Singapore, Malaysia, Oman, Qatar, Bahrain and the UAE, he said.
It has 13 cluster production units in the country and in the GCC and has 12 jewelry brands.
Source: Telangana Today