Malabar Gold aims to expand

Company is targeting gulf countries and major Indian cities

In a latest development, leading Jewellery retailer Malabar Gold and Diamonds plans to increase its footprint by opening new outlets in Maharashtra, Gujarat, Delhi, Uttar Pradesh and Punjab. The company is also looking to mark its presence South Asia, Middle East and Far Eastern markets. At present Malabar Group is operating 94 stores across the globe. Recently, company has inaugurated its eleventh outlet in Tamil Nadu. Speaking on expansion, Malabar Group Chairman M P Ahammed, said, "The launch of our showroom in Ramanathapuram is a part of our 2013 plan to strengthen our retail presence across the country. The company plans to increase its worldwide retail network and is targeting to have 220 stores by 2015."