Malabar Gold, a leading gold and diamond jewellery company in South India and in the Middle East, has announced a four-year expansion plan to raise its retail network to 220 outlets from 64, with an investment of Rs.35 billion. The ambitious program is expected to create 15,000 jobs and triple the companies annual turnover to Rs.300 billion (about $6 billion), to make it the world's leading jewellery brand, the company said in a statement. As a first step towards achieving the set milestones, MP Ahamed, Chairman of Malabar Group of Companies, has launched a new identity, Malabar Gold & Diamonds, foreseeing growth in the diamonds jewellery industry. The new identity, he said, seeks to give the company's gold and diamond products an “to a globally diverse clientele”. The plan was announced in association with The Brand Union Middle East, a global brand agency with 35 years' experience and more than 20 offices worldwide. As part of the plan, the company is investing about $100 million (Rs.5 billion) to roll out more than 20 retail outlets in 2012 itself. This will raise the number of retail outlets in various parts of the GCC and India, to 84 outlets. Malabar Gold & Diamonds, whose turnover last year exceeded $2.4 billion (Rs.120 billion), is the third largest jewellery retailer in the world, after Hong Kong-based CTF and Tiffany & Co.
