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Malabar Gold in Dh35m Mideast expansion
Malabar Gold, a south Indian jewellery group, is undertaking a Dh35 million expansion in the Middle East which includes the opening of showrooms this year, its managing director said.
- By Natasha Marrian, Staff Reporter
- Published: 00:13 October 3, 2008
Dubai: Malabar Gold, a south Indian jewellery group, is undertaking a Dh35 million expansion in the Middle East which includes the opening of showrooms this year, its managing director said.
Shamlal Ahmad said the group opened its second retail showroom in Ajman on September 25 and two more were expected to open in Dubai this month. "The first retail showroom opened in Sharjah in June. We are planning to open up more retail showrooms in all GCC countries soon. Showrooms in Bur Dubai and Al Ain are planned to open this month," Ahmad said.
A branch in Kuwait is also on the cards before the end of the year, he said.
While the group felt the effects of a hike in the gold price last month, it expected the new branches to help boost sales in the region.
"It affected our volumes, the hike decreased sales. We did see a dip last week, but sales generally picked up," Ahmad said.
The showroom in Ajman was inaugurated by Shaikh Majid Bin Saeed Bin Rahid Al Nuaimi, head of the Emiri Court, in September.
According to Ahmad, it features a collection of diverse designs in gold, diamond and platinum including designs from Italy, Singapore, Kolkata, Mumbai, Jaipur and Karnataka.
Malabar imports its jewellery from India, Bahrain, Turkey and Singapore.
The Ajman showroom will house a collection of expensive diamond brands: like Felisa, Suki, Solitaire and Fusion, in collaboration with world famous diamond jewellery traders Rosy Blue as well as designer bridal items.
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