Malabar Gold to invest ₹1,600 cr to open 40 new stores by FY22

Malabar Group Chairman MP Ahammed has recently announced the retail expansion with the investment of ₹1,600 cr and generating 1,750 new jobs. Kerala-based Malabar Gold & Diamonds, which is one of the largest gold and diamond retailers, is on an expansion spree investing in next fiscal, adding 56 new stores. Of the new 56 stores, 40 will be in India and the rest 16 overseas. The domestic expansion will be in Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Maharashtra, Delhi, Bengal, UP, Odisha and Kerala. In the meanwhile, the international expansion plan will further strengthen its position in Singapore, Malaysia, Oman, Qatar, Bahrain and the UAE. For sure, such outlet expansion plan of Malabar Group will bring fresh business opportunity for the signage players engaging in in-store branding and graphic projects.